Gerresheimer substantially increased earnings in the second quarter of financial year 2014.
High-quality packaging for drugs and products enabling safe and easy self-medication continues to be increasingly in demand worldwide. We achieved growth in revenues and most of all in earnings in the second quarter of this year. This confirms our guidance for 2014,” said Uwe Röhrhoff, Gerresheimer CEO.
Gerresheimer is one of the leading partners to the pharma and healthcare industry worldwide, developing and producing glass and plastic packaging for drugs and cosmetics along with complex drug delivery products, such as insulin pens, asthma inhalers and prefillable syringes.
Gerresheimer again increased revenues as planned in the second quarter of financial year 2014 (December 1, 2013 to November 30, 2014). Revenues in the second quarter of 2014 came to €335.4m, up 2.6% on the prior-year quarter. At constant exchange rates, revenues grew by 6.0% compared with the prior-year quarter.
The main driver of revenue growth was the pharmaceutical plastic packaging business. Similarly, the engineering and tooling business, which tends to precede series production of medical plastic systems, once again saw a large increase in revenues. Revenues with prefillable syringe systems likewise continued to grow.
In the second quarter of 2014, the Company generated adjusted EBITDA of € 65.1m, an increase of 9.1% on the prior-year figure.
The adjusted EBITDA margin was 19.4% in the second quarter, outper-forming the 18.3% margin in the comparative period. Margin growth spanned all three divisions. Net income for the second quarter totaled €20.8m, €8.5m higher than net income in the same period of the prior year.
The € 0.61 earnings per share was higher than the figure of € 0.34 recorded for the prior-year quarter.
As planned, Gerresheimer incurred capital expenditure of €25.1m in the second quarter of 2014. Capital expenditure continued to focus on adding production capacity for medical plastic systems such as insulin pens and inhalers in Horsovsky Tyn, Czech Republic, and Peachtree City, USA.