Gerresheimer substantially improves operating earnings in second quarter

Duesseldorf (ots) -

- cross reference: The full press release including tables is
available at http://www.presseportal.de/dokumente -

- Revenues up 6.3% to EUR 356.4m (1.9% on an organic basis)
- Adjusted EBITDA rises 10.6% to EUR 72.1m
- Net income grows by 7.4% to EUR 22.4m
- Earnings per share lifted to EUR 0.65
- Guidance confirmed for financial year 2015
- Refinancing successfully completed

Gerresheimer AG kept up its successful trend in the second quarter
of the financial year. In more than 40 plants around the world, the
Duesseldorf-based, MDAX-listed Group manufactures glass and plastic
pharma packaging together with products for the safe and convenient
drug delivery such as insulin pens and asthma inhalers. "Our business
did well in the second quarter, too. We achieved healthy growth in
both revenues and earnings. We continue to deliver our growth
strategy. We will continue to achieve profitable growth as we are
well positioned worldwide and reap the benefits of long-term
megatrends in healthcare," said Uwe Röhrhoff, Chief Executive Officer
of Gerresheimer AG.

The Group sustained its revenue growth in the second quarter of
financial year 2015 (financial year 2015: December 1, 2014 to
November 30, 2015). Revenues increased by 6.3% to EUR 356.4m. On an
organic basis, meaning adjusted for exchange rate effects,
acquisitions and divestments, revenues grew by 1.9% compared with the
prior-year quarter. Very strong growth was achieved in revenues with
medical plastic products such as asthma inhalers and blood glucose
skin-prick aids for diabetics. Pharmaceutical plastic packaging
products also sold well. Tooling and engineering revenues returned to
normal after very high revenues in the prior-year quarter. Business
with pharmaceutical primary packaging made of glass recovered as
expected as the year progressed but remained slightly down on the
prior-year quarter.

As part of the portfolio streamlining decided on at the end of
2014, Gerresheimer is going to close its glass plant in Millville,
USA, in the third quarter of 2015. The entire moulded glass
production will be consolidated at the Chicago Heights plant, which
in turn will undergo expansion and infrastructure improvement in the
course of the forthcoming furnace overhaul. Product quality will also
be enhanced as a result. Revenues in the laboratory glassware
business were slightly up. The Group generated adjusted EBITDA of EUR
72.1m in the second quarter of 2015, an improvement of 10.6% on the
prior-year quarter. At constant exchange rates, adjusted EBITDA came
to EUR 70.3m. The adjusted EBITDA margin was 20.2% in the second
quarter, rising above the margin of 19.4% in the prior-year quarter.
All three divisions contributed to the improved margin. Net income
was EUR 22.4m in the second quarter of 2015, 7.4% higher than in the
prior-year quarter. Earnings per share stood at EUR 0.65, compared
with EUR 0.61 a year earlier. Adjusted earnings per share came to EUR
0.84, versus EUR 0.73 in the comparative prior-year quarter.

Gerresheimer's capital expenditure in the second quarter of 2015
was EUR 19.9m, as against EUR 25.1m in the prior-year quarter. The
lion's share of capital expenditure was accounted for by primary
packaging glass plants. The focus remained 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.

In light of the positive market environment, Gerresheimer
refinanced its syndicated loans ahead of schedule. A new EUR 450m
revolving credit facility with a five-year term was signed on June 9,
2015. The EUR 400m in bank loans otherwise due to expire in 2016 were
redeemed on June 15, 2015. The Group thus gained a slight increase in
the facility amount at lower cost and on improved terms. This lays a
solid foundation for its onward growth strategy.

Outlook

Assuming that the sale of the tubing glass business to Corning
Incorporated is completed by the end of 2015, and with the figures
based in each case on constant exchange rates and excluding
acquisitions and divestments, Gerresheimer's expectations for
financial year 2015 remain as follows. Gerresheimer anticipates
organic revenue growth of between 1% and 3%. This corresponds to a
revenue corridor of some EUR 1,300m to EUR 1,330m. Regarding adjusted
EBITDA, Gerresheimer expects an increase in a target corridor of EUR
255m to EUR 265m. Capital expenditure in financial year 2015 is
forecast to represent around 9% to 10% of revenues at constant
exchange rates.

Assuming completion of the sale of the tubing glass business by
the end of 2015, Gerresheimer's expectations for 2016 to 2018 are as
follows:

- Annual organic revenue growth is expected to average 4% to 6%.
- The adjusted EBITDA margin will be approximately 20% in 2018.
- Capital expenditure will be in the range of 8.0% to 9.5% of
revenues at constant exchange rates.
- Return on capital employed (ROCE) will increase slightly.

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

Further information on the planned sale of the tubular glass
business to Corning and on the joint venture is available at:
http://www.gerresheimer.com/en/news-events/press-releases

press contact:
Gerresheimer AG
Klaus-Bungert-Strasse 4
40468 Duesseldorf
Germany

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.com