on Gerresheimer AG (isin : DE000A0LD6E6)

Gerresheimer Remains on Track in 1st Half Year 2024

Gerresheimer, a global partner for the pharma, biotech, and cosmetic industries, continues to show resilience in the 1st half of FY 2024. Revenues rose to EUR 968.5m from EUR 957.4m in 1H 2023, marking a 1.7% organic growth. Adjusted EBITDA increased by 2.9% to EUR 188.2m, with an adjusted EBITDA margin of 19.4%.

The Plastics & Devices division posted strong results with revenues rising by 9.9% to EUR 541.5m and adjusted EBITDA growing by 18.3% to EUR 138.1m. This division's success is attributed to demand for drug delivery systems and plastic containment solutions.

However, the Primary Packaging Glass division saw a decline in revenues by 6.9% due to destocking effects in the pharma sector, lowering its adjusted EBITDA to EUR 74.3m, a 14.8% drop year-on-year.

Gerresheimer expects a positive business upturn in the 2nd half of 2024 as new production lines start and destocking effects subside. The Management Board has confirmed its forecast for FYs 2024 and 2025, with expected organic revenue growth of 5-10% in 2024.

R. P.

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