Gerresheimer Reports Positive Start to FY 2024 with Growth in Revenue and EBITDA

Gerresheimer AG, a global partner providing systems and solutions to the pharma, biotech, and cosmetics industries, has announced a strong start to the financial year 2024. The company has reported an organic revenue growth of 2.8% and an organic increase in adjusted EBITDA of 5.9%. This growth was predominantly led by the Plastics & Devices Division. The total revenues reached EUR 466.1 million, with adjusted EBITDA at EUR 80.9 million, marking an improvement in the adjusted EBITDA margin by 50 basis points to 17.3% compared to the same quarter of the previous year.

Gerresheimer highlighted that global capacity expansion including for syringes, pens, and auto-injectors is progressing as planned, supporting its positive outlook. The company has reaffirmed its guidance for the financial year 2024, projecting an organic revenue growth between 5 and 10% and an adjusted EBITDA between EUR 430 million and EUR 450 million.

The Plastics & Devices Division showed significant organic revenue growth of 13.7%, driven by high demand for drug delivery systems. However, the Primary Packaging Glass Division experienced a 7.2% decline in organic revenue year on year, mainly due to decreased pharma business demand attributed to customer inventory effects.

Despite the mixed performance across divisions, Gerresheimer remains optimistic about continuing its profitable growth trend in 2024 and beyond, supported by a strong order backlog and solid growth projections.