Gerresheimer reports good third quarter - Centor acquisition completed - Seite 2

laboratory glassware revenues were slightly down.

The Company generated adjusted EBITDA of EUR 68.0m in the third
quarter of 2015, significantly outperforming the prior-year figure of
EUR 62.1m. The adjusted EBITDA margin was 19.8% in the third quarter,
above the 19.2% margin in the prior-year quarter. All three divisions
contributed to the favorable margin growth. Net income for the third
quarter of 2015 totaled EUR 20.2m, EUR 0.4m higher than in the
comparative prior-year quarter. Adjusted net income stood at EUR
29.2m in the third quarter of 2015, compared with EUR 22.7m in the
prior-year period. Adjusted earnings per share came to EUR 0.85 in
the third quarter of 2015, versus EUR 0.67 a year earlier. Operating
cash flow performed favorably in the first nine months of financial
year 2015, improving on the prior-year period by EUR 58.6m to EUR
104.5m.

Gerresheimer's capital expenditure in the third quarter of 2015
was EUR 37.9m as against EUR 22.4m in the prior-year quarter. The
lion's share of capital expenditure was accounted for by glass
primary packaging plants and related in the most part to the renewal
and enlargement of the Chicago Heights plant. Alongside this, there
was further capital expenditure on vial and cartridge machinery.
Production capacity expansion for medical plastic systems, such as
inhalers, also continued in the Czech Republic and the USA.

On July 27, 2015, Gerresheimer signed the agreement for the
acquisition of Centor, USA. The transaction was completed as of
September 1, 2015. Centor, which in 2014 generated (pro forma)
revenues of USD 167m and employed 220 people, is the market leader in
plastic packaging for oral prescription medication in the US end
consumer market. The USD 725m debt-free purchase price was financed
in its entirety out of borrowing.

Outlook

For reasons of comparability with the prior year, Gerresheimer's
outlook for 2015 includes neither the Centor acquisition nor the
potential closing of the sale of the glass tubing business before the
2015 financial year-end. Leaving both these transactions out of
consideration and assuming constant exchange rates (assumed rate: EUR
1.00/USD 1.30), the Group's forecast is as follows:

For financial year 2015, Gerresheimer continues to expect organic
revenue growth of 1% to 3%. This corresponds to a revenue corridor of
some EUR 1,300m to EUR 1,330m. Regarding adjusted EBITDA, the Group
expects an increase in a target corridor of between EUR 255m and EUR
265m. Capital expenditure in financial year 2015 is forecast to
represent around 9% to 10% of revenues at constant exchange rates.

Looking further ahead, Gerresheimer has formulated initial
indications for the financial years 2016 to 2018, based on the
assumption that both the sale of the glass tubing business and the
acquisition of Centor will have been completed in financial year
2015.

On that basis, annual organic revenue growth is expected to
average 4% to 5%. For the adjusted EBITDA margin, the Group has set a
target of approximately 22% for 2018. Capital expenditure will be in
the range of between 8.0% and 9.0% of revenues at constant exchange
rates.

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

Further information on the Centor acquisition is available here:
www.gerresheimer.com/en/news-events/press-releases

Originaltext: Gerresheimer AG
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ISIN: DE000A0LD6E6

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

Jens Kürten
Group Senior Director Communication & Marketing
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Internet www.gerresheimer.com