Gerresheimer Achieves Strong Profitable Growth in First Half of 2023, Confirms Positive Outlook
Gerresheimer, a global partner and provider of cutting-edge systems and solutions for the pharma and biotech industries, has demonstrated sustained growth and exceptional performance in the first half of the year.
Impressive Financial Highlights
In the first half of 2023, Gerresheimer achieved remarkable organic revenue growth of 16.6 percent, amounting to EUR 957.4 million. Additionally, adjusted EBITDA increased by 23.0 percent organically, reaching EUR 185.2 million. These outstanding results reflect the successful realignment of the company’s product mix, capitalizing on global megatrends in the pharma and biotech markets.
Expansion of Production Capacities
To support its growth plans and cater to increasing demand, Gerresheimer is expanding its production capacities in Europe, the United States, and Mexico. This strategic initiative focuses on medical systems like syringes, pens, auto-injectors, and high-value solutions, ensuring the company remains at the forefront of innovation.
Securing Long-Term Orders
Gerresheimer’s diverse portfolio includes a wide range of solutions, particularly for biopharmaceuticals such as medications based on glucagon-like peptide 1 (GLP-1) for obesity treatment. The company has successfully secured long-term orders, further solidifying its position as the preferred strategic partner for the global pharma and biotech industry.
Plastics & Devices Division: Meeting Growing Demand
The Plastics & Devices Division recorded outstanding performance, generating EUR 494.1 million in revenues, representing an organic increase of 18.2 percent. This growth is primarily driven by the high demand for containment solutions made from plastic and medical devices like inhalers and pens.
Primary Packaging Glass Division: Benefitting from Market Momentum
The Primary Packaging Glass Division experienced a robust 15.5 percent increase in revenues, reaching EUR 461.7 million. Both the Moulded Glass and Tubular Glass Business Units contributed significantly to this positive result. Gerresheimer’s focus on high-value solutions ensured the division thrived amidst favorable market conditions.
Continued Positive Outlook and Future Growth
Gerresheimer expects the positive momentum to persist in the second half of 2023 and confirms its guidance for the full year. The company foresees organic revenue growth and adjusted EBITDA growth of at least 10 percent each. Additionally, Gerresheimer aims for low single-digit percentage growth in adjusted EPS.
Looking ahead, Gerresheimer remains committed to delivering organic revenue growth of at least 10 percent, maintaining an adjusted EBITDA margin of 23-25 percent, and achieving annual adjusted EPS growth of at least 10 percent.
To access the Half-Year Financial Report and delve further into Gerresheimer’s exceptional performance, visit here.
Source: Gerresheimer with additional information added by Apazone