Packaging manufacturer Gerresheimer increases revenues

Sustained high demand for products such as glass ampoules, syringes and pharmaceutical plastic packaging continues to provide the special packaging manufacturer Gerresheimer with a tailwind.

However, high costs put a strain on profit margins, i.e. the share of profit in sales.

Sales rose in the third quarter of the fiscal year (until the end of August) year-on-year by 9.4 percent to 382 million euros, as the company listed in the MDax announced on Tuesday.

Düsseldorf - Above all, the demand for prefillable syringes was high, it said.

The cosmetics sector, which was ailing in the corona crisis, was also able to recover.

Operating earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) fell by 0.2 percent to 74.8 million euros.

The management cited increased costs for raw materials such as plastic granulate, electricity and gas as the reason.

The margin deteriorated accordingly by 1.9 percentage points to 19.6 percent.

The adjusted group result rose moderately by 2.8 percent to 31.6 million euros.

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The bottom line was a profit of 20.3 million euros.

That was a good fifth less than in the same period of the previous year.

Head of the Group, Dietmar Siemssen, sees himself on course for the annual targets, but now calculates sales at the upper end of the target range of currency-adjusted growth in the core business in the mid-single-digit percentage range.

However, he now sees the operating margin at the lower end of the targeted range of 22 to 23 percent.

dpa