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Gerresheimer substantially increases quarterly operating profit

Geschrieben am 15-10-2008

Düsseldorf (ots) -

- Querverweis: Group Key Figures (IFRS) (End of Q3: August 31;
Financial Year end November 30) liegen in der digitalen
Pressemappe zum Download vor und sind unter
http://www.presseportal.de/dokumente abrufbar -

* Sales in the third quarter up by 7.2% to ?268.0m
* Adjusted Group results more than doubled in the third quarter of
2008 from EUR7.4m to EUR16.5m
* Sales process started for Technical Plastics business
* CEO Dr. Axel Herberg confirms the outlook for 2008

Gerresheimer AG again achieved a substantial increase in sales and
operating results in the third quarter of 2008. Overall, sales by the
globally operating manufacturer of special products for the pharma &
life science industry totalled EUR268.0m (Q3 2007: EUR250.1m). This
is equivalent to growth of 7.2%. On a like-for-like exchange-rate
basis sales actually increased by 10.2%. Operating results (Adjusted
EBITDA) improved by 14.1% to EUR50.3 m (prior year: EUR44.1m). The
adjusted EBITDA margin increased to 18.8% from 17.6%. In the third
quarter the sale process for the Technical Plastics business was
commenced. This led to non-scheduled depreciation of EUR33.0m,
resulting in a negative consolidated result of EUR22.8m for the third
quarter. Gerresheimer takes this charge in anticipation of the
possible book loss on the sale. The depreciation has no effect on
cash flow or operating results. The adjusted net income, which
reflects the company's operating profitability, more than doubled in
comparison with the prior-year quarter to EUR16.5m (Q3 2007:
EUR7.4m). The same applies for adjusted earnings per share, which
were substantially higher in the third quarter of 2008 at EUR0.52 (Q3
2007: EUR0.22).

"By focussing on the markets of pharma & life science we have
again realised above-average growth this quarter. Gerresheimer is
bucking the current negative trend in the global economy and shows
that we are a strong company which continues to grow profitably even
in difficult times", says Dr. Axel Herberg, Chief Executive Officer
of Gerresheimer AG.

The positive result for the third quarter of 2008 is also
reflected in the nine-month figures. In the first three quarters of
the current financial year Gerresheimer achieved sales of EUR783.4m
(Q1-Q3 2007: EUR697.4m). This is equivalent to sales growth of 12.3%.
Operating results (Adjusted EBITDA) improved by 18.1% to EUR146.9m
(prior year: EUR124.4 m). The Adjusted EBITDA margin was 1.0
percentage point higher than in the first nine months of the prior
year and reached 18.8%.

Growth in all divisions

In the third quarter of 2008, sales by the Tubular Glass Division
rose by 14.0%, or 19.1% on a like-for-like exchange-rate basis, to
EUR77.6 m (prior year: EUR68.1m). The main growth generator in this
Division was RTF (Ready-to-Fill) syringe systems, sales of which rose
by 54%. Production capacity for RTF syringes is now fully utilised.
In order to cover the sustained high level of demand, a substantial
investment is being made in this Division and a further production
line will be commissioned in early 2009. Growth was also achieved by
the Tubular Glass Division in the American market for pharmaceutical
vials and in the Chinese market. Operating results (Adjusted EBITDA)
improved by 12.4% to EUR19.1m (Q3 2007: EUR17.0m).

Sales by the Plastic Systems Division increased by 6.2%, or 5.5%
on a like-for-like exchange-rate basis, to ?87.8m (Q3 2007:
EUR82.7m). Adjusted EBITDA totalled EUR15.4m, 11.6% up on the prior
year (EUR13.8m). A particularly strong contribution to this result
was made by the segment of Medical Plastic Systems, with double-digit
growth. Integration of the companies acquired at the beginning of
2008 in Spain (today Gerresheimer Zaragoza S.A.) and Brazil (today
Gerresheimer Plasticos Sao Paulo Ltda.) has been successfully
completed. Both of the companies made a positive contribution to the
Division's development. In parallel, the sales process for the
segment of Technical Plastic Systems was commenced as part of the
company's concentration strategy, under which the Consumer Health
Care segment which was also not part of the core business was already
sold with effect on June 1, 2008.

The Moulded Glass Division again achieved above-market-average
sales growth of 5.0%, or 7.7% on a like-for-like exchange-rate basis,
to EUR83.7m (Q3 2007: EUR79.7m). This was attributable in particular
to higher sales of pharmaceutical bottles in the USA and Europe. A
further growth contributor was cosmetic products. Adjusted EBITDA
improved by 14.5% to EUR17.4m (prior year: EUR15.2m).

Sales by the Life Science Research Division increased markedly by
10.1% or 26.4% on a like-for-like exchange-rate basis to EUR22.9m (Q3
2007: EUR20.8m). Adjusted EBITDA of EUR2.9m (Q3 2007: EUR1.8m) even
increased by 61.1% compared to prior year.

Growth despite the financial crisis

"Supported by the sustained high level of demand for our products
and the stable growth in our core markets of pharma & life science,
we confirm our outlook for the current financial year", says Dr. Axel
Herberg. Gerresheimer continues to forecast a sales growth of 9% to
11%. In terms of operating results the company expects to achieve an
adjusted EBITDA margin of approximately 19.5%.

The company will at the same time continue its successful focus on
the markets of pharma & life science. A solid long-term financial
structure will allow it to continue to invest in the core markets in
the future.

About Gerresheimer

Gerresheimer employs more than 10,000 people in 40 locations in
Europe, America and Asia. In the financial year 2007, worldwide sales
totalled EUR958m. The product portfolio ranges from pharmaceutical
vials made of glass and plastic through to complex drug-delivery
systems for the pharma & life science industry. These include sterile
syringes, inhalers and other system-based approaches for safe dosage
and application of medications. The Group enjoys a leading position
in markets which are characterised by high technical and regulatory
barriers.

Originaltext: Gerresheimer AG
digital press kits: http://www.presseportal.de/pm/9072
press kits via RSS: http://www.presseportal.de/rss/pm_9072.rss2
ISIN: DE000A0LD6E6

Pressekontakt:
Contact Press
Burkhard Lingenberg
Director Corporate PR & Marketing
Telephone +49 211 6181-250
Telefax +49 211 6181-241
E-mail b.lingenberg@gerresheimer.com

Contact
Investor Relations
Anke Linnartz
Director Corporate Investor Relations
Telephone +49 211 6181-314
Telefax +49 211 6181-121
E-mail a.linnartz@gerresheimer.com


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