Pharmaceutical and cosmetics glass manufacturer Gerresheimer is on track to deliver a record financial year 2022 after solid second quarter.
First half performance had an organic revenue growth of 15.7%, while adjusted EBITDA grew by 7.3%.
Dietmar Siemssen, CEO of Gerresheimer, said: “We are seeing strong demand from our customers across our entire portfolio and are on track for another record year in 2022 as well as delivering for our mid-term guidance.”
The Primary Packaging Glass Division showed an organic growth of 19.4%. This was driven by strong demand for both tubular and moulded glass with a particular focus on High Value Solutions such as Gx Elite Glass. Adjusted EBITDA rose organically by 8.3% and was in particular influenced by higher energy cost.
Gerresheimer has been implementing a broad range of measures to manage inflationary impacts and to ensure continuity of supply of its system critical solutions and services. This includes long-term supply agreements, hedging contracts against energy price increases and passing on price increases. Looking forward, Gerresheimer will further improve its energy mix through the rigorous implementation of its sustainability strategy.
In the second quarter of its 2022 financial year, Gerresheimer generated revenues of €445 million, representing an organic growth of 13%. The focus on investing in key growth drivers, such as High Value Solutions in pharma and beauty, regional expansion and contract manufacturing, is delivering results with sustainable, profitable growth across all divisions.
Revenue growth was also supported by the current dynamic pricing environment, with contractual pass-through and sustainable price increases. Adjusted EBITDA rose to €90 million, an organic increase of 5.1%. Adjusted earnings per share (EPS) increased from €1.28 to €1.34.
