Gerresheimer raises earnings in first quarter

Duesseldorf (ots) -

- Revenues up 1.4% to EUR 301.8m (organic growth -2.4%)
- Adjusted EBITDA growth of 7.2% to EUR 51.0m (Q1 2014: EUR 47.6m)
- Net income climbs 22.8% to EUR 12.7m (Q1 2014: EUR 10.3m)
- Earnings per share up 20.7% on prior-year quarter, at EUR 0.35
- Guidance confirmed for 2015

- Cross reference: Press release including table is available at
http://www.presseportal.de/pm/9072 -

MDAX-listed Gerresheimer has completed the first quarter of 2015
on target. In more than 40 plants around the world, the
Duesseldorf-based Group manufactures glass and plastic pharma
packaging and drug delivery devices for safe and easy application of
drugs such as insulin pens and asthma inhalers. "The first quarter
went in line with our forecast. As expected, revenues were moderate
and earnings were as good as anticipated. Our large medium-term
projects are running to plan. We are on track and confirm our
guidance for this financial year," said Uwe Röhrhoff, CEO of
Gerresheimer AG.

The Company generated revenues of EUR 301.8m in the first quarter
of financial year 2015 (December 1, 2014 to November 30, 2015),
marking growth of 1.4% on the prior-year quarter. On an organic
basis, meaning adjusted for exchange rate effects as well as for
acquisitions and divestments, the Group saw an anticipated revenue
decrease in the first quarter by 2.4%. Demand for glass
pharmaceutical primary packaging was weak as expected, above all in
the USA. Gerresheimer consequently extended the holiday shutdowns at
a number of US production locations beyond the New Year. Revenues
increased in medical systems, most notably inhalers, as well as in
plastic primary pharma packaging. Engineering and tooling revenues
returned to normal after the record set in the prior-year quarter.
Laboratory glassware revenues were slightly down as anticipated.

The Company achieved a significantly larger increase in adjusted
EBITDA, which was up 7.2% from EUR 47.6m in the prior-year quarter to
EUR 51.0m. At constant exchange rates, adjusted EBITDA stood at EUR
50.2m. The adjusted EBITDA margin was 16.9% in the first quarter of
2015, an improvement on the 16.0% recorded in the comparative period.
Net income was EUR 12.7m in the first quarter of 2015, EUR 2.4m
higher than in the prior-year quarter. Earnings per share increased
correspondingly by 20.7% to EUR 0.35. The figure for the prior-year
quarter was EUR 0.29.

Gerresheimer incurred capital expenditure of EUR 13.9m in the
first quarter of 2015, compared with EUR 21.7m in the prior-year
quarter. Major part of capital expenditure was accounted for by glass
primary packaging plants. The focus was on capital expenditure on
vial and cartridge machinery as well as on routine furnace overhauls.
Production capacity expansion for medical plastic systems such as
inhalers also continued in the Czech Republic and the USA.

Outlook

The Company's unaltered expectations for financial year 2015, in
each case at constant exchange rates and without acquisitions or
divestments, are as follows: Gerresheimer expects organic revenue
growth of between 1% and 3%. This corresponds to a revenue corridor
of some EUR 1,300m to EUR 1,330m. Gerresheimer anticipates an
increase in adjusted EBITDA in a target corridor of between EUR 255m
and EUR 265m. Capital expenditure in financial year 2015 will amount
to around 9% and 10% of revenues at constant exchange rates.

For financial years 2016 to 2018, the Company expects annual
organic revenue growth of 4% to 6% on average. For the adjusted
EBITDA margin, Gerresheimer is aiming at a target of 21% in 2018. To
attain these targets, an annual investment volume in the range of 9%
to 10% of revenue at constant exchange rates will be required.

The Quarterly Report is available at:
www.gerresheimer.com/en/investor-relations/reports.html

Contact:
Gerresheimer AG
Jens Kürten
Group Senior Director Communication & Marketing
Phone +49 211 6181-250
Telefax +49 211 6181-241
E-Mail j.kuerten@gerresheimer.com
Internet www.gerresheimer.comPress