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July 14, 2022

Gerresheimer posts 13% revenue growth for second quarter of FY22

The company reported an organic revenue growth of 15.7% for the first half of the year.

Germany-based primary packaging company Gerresheimer has reported a 13% increase in organic revenue to €445m in the second quarter (Q2) of the fiscal year 2022 (FY22).

During the quarter, the company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 5.1% to €90m.

Its adjusted earnings per share (EPS) also increased from €1.28 to €1.34 in Q2 2022.

Gerresheimer’s Primary Packaging Glass Division generated an organic growth of 19.4%, driven by strong demand for both tubular and moulded glass, while its adjusted EBITDA increased organically by 8.3%.

Revenues for the company’s Plastics & Devices Division grew organically by 8.0% while its adjusted EBITDA was down by 4.2%.

Following its Q2 results, Gerresheimer posted a 15.7% organic revenue increase and an adjusted EBITDA growth of 7.3% in the first half of FY22.

Gerresheimer CEO Dietmar Siemssen said: “I am particularly pleased with the strong performance we have delivered in the first half of the year, which is further evidence of our successful transformation into a solution provider and system integrator with higher, sustainable and profitable growth.

“We continue to successfully navigate the challenges of the inflationary environment utilising its benefits from long-term energy supply agreements, hedges against energy price increases and its pricing power.

“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.”

For the full year, Gerresheimer anticipates an organic revenue growth of at least 10% and adjusted EPS to grow in the high single-digits.

Based in Düsseldorf, the company supplies primary packaging products for medication and drug delivery devices made from special-purpose glass and plastics.

Earlier this month, it signed a revolving credit facility worth €150m to address its refinancing requirements for the year.

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