Gerresheimer substantially increases earnings in second quarter

Duesseldorf (ots) -

- cross reference: Full press release is available at
http://www.presseportal.de/dokumente -

- Revenues up 4.0% to EUR 370.5m
- Adjusted EBITDA rises 17.5% to EUR 84.7m
- Adjusted EBITDA margin climbs to 22.8%
- Adjusted earnings per share surpass prior-year quarter by 34.5%
to reach EUR 1.13

Gerresheimer AG, one of the leading partners to the pharma and
healthcare industry worldwide, performed in accordance with
expectations in the second quarter of 2016. "We completed this last
quarter with very good results. All key earnings indicators show
double-digit growth and the revenue trend is in line with our
expectations. I am optimistic for the second half of the year," said
Uwe Röhrhoff, CEO of Gerresheimer AG.

Pharmaceutical packaging manufacturer Gerresheimer boosted
revenues by 4.0% to EUR 370.5m in the second quarter of financial
year 2016 (March 1 to May 31, 2016). On an organic basis, meaning
adjusted for exchange rate effects, acquisitions and divestments,
revenues held their level from the prior-year quarter. Strong growth
was generated first and foremost in the pharmaceutical primary
packaging and device businesses, both in North America and in Europe.
Emerging market revenues were down, on the other hand, as a result of
a temporary slowdown. Tooling and engineering revenues, which are
normally subject to sharp fluctuations, were below their prior-year
level due to the billing cycle.

The second quarter of 2016 saw adjusted EBITDA increase by 17.5%
to EUR 84.7m. The adjusted EBITDA margin, at 22.8% in the second
quarter, was significantly higher than the 20.2% reported in the
prior-year quarter. Net income reached EUR 31.1m in the second
quarter, EUR 8.7m above the figure a year earlier. Adjusted net
income came to EUR 37.7m in the second quarter, compared with EUR
29.2m in the prior-year quarter. Adjusted earnings per share were
over 34.5% up on the prior-year quarter, climbing to EUR 1.13 (versus
EUR 0.84).

Gerresheimer incurred EUR 21.3m in capital expenditure in the
second quarter, compared with EUR 19.9m in the comparative prior-year
period. Capital spending in recent months was once again focused on
standardizing and modernizing machinery for the manufacture of
injection vials and cartridges worldwide. There were also scheduled
furnace overhauls. Additional items were the purchase of a site for a
new plastic packaging location in Brazil and expansion of the medical
plastic systems plant in Peachtree City, USA.

Outlook

Gerresheimer's expectations for financial year 2016, in each case
assuming constant exchange rates and excluding acquisitions and
divestments, remain as set out in the following. For the US
dollar-which going forward will account for about a third of Group
revenues in 2016 and is likely to have the largest currency impact on
the Group currency-Gerresheimer has assumed an exchange rate of
approximately USD 1.12 to EUR 1.00.

In financial year 2016, the Company continues to anticipate Group
revenues of around EUR 1.5bn (plus or minus EUR 25m) on a constant
exchange rate basis. The Group revenues of around EUR 1.5bn
correspond to revenue growth of some 9% at constant exchange rates
compared with revenues in financial year 2015, and organic revenue
growth of between 4% and 5%. It is anticipated that adjusted EBITDA
will increase to some EUR 320m (plus or minus EUR 10m) at constant
exchange rates in financial year 2016. Capital expenditure in
financial year 2016 is forecast to account for around 8% of revenues
at constant exchange rates.

In addition, the Company confirmed its indication for the
financial years 2016 to 2018, in each case stated at constant
exchange rates and assuming an exchange rate of USD 1.12 to EUR 1.00.
Gerresheimer is aiming for average annual organic revenue growth of
between 4% and 5% for the period from 2016 to 2018. For the adjusted
EBITDA margin, the Group has set a target of around 22% for financial
year 2018. In order to meet these targets, Gerresheimer will in all
probability incur annual capital expenditure amounting to around 8%
of revenues at constant exchange rates.

The full quarterly report is available here:
www.gerresheimer.com/en/investor-relations/reports

Originaltext: Gerresheimer AG
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ISIN: DE000A0LD6E6

Pressekontakt:
Gerresheimer AG
Klaus- Bungert - Strasse 4
40468 Duesseldorf
Germany

Jens Kürten
Group Senior Director Communication & Marketing
Phone [phone]
Telefax [phone]
E-mail [e-mail]
Website www.gerresheimer.com