Pharmaceutical and cosmetics glass manufacturer Gerresheimer has reported record revenue growth.
In its latest financial note, the German headquartered group reported revenue of €1,497million last year, a growth of 7.6%.
Dietmar Siemssen, CEO, said: “2021 was a record year of growth for us. The results show our strategy is paying off: We are turning Gerresheimer into the leading provider of innovative solutions and systems for the healthcare and beauty industry.”
The group is focused on plastic and glass packaging.
Its glass manufacturing division had an organic growth rate of 8.6% in the fourth quarter 2021 due to a strong demand for tubular and moulded glass.
It cited growth drivers such as biological solutions, its Elite glass brand glass and RTF vials in pharma.
Demand in Its cosmetics business was up year on year and exceeded demand from pre-pandemic levels.
Rising energy prices were offset by price increases in its Moulded Glass Division.Energy prices increases will be offset by price increases in its glass products next year.
In its note it said: “The global megatrend for injectables is unbroken. Increasing demand of vaccination-related solutions as well as the increasing focus on biological drugs and self-medication supports Gerresheimer’s growth track.
“The company significantly ramped-up capacity in this area in Europe, USA and Asia, which now clearly translates into profitable growth.”
