Gerresheimer AG Q3 revenue up 9.2% to 311.4 mln euros

Gerresheimer AG reported 9.2% rise in its revenue to 311.4 million euros for the third quarter. The German pharma and healthcare industry supplier stated it reported lower profit for the third quarter as the increase in expenses more than offset increased revenues.  But, the company maintained its full year forecasts. 

Net income dipped 25% to 14.4 million euros ($18.62 million) from 19.2 million euros. The adjusted net income was lower by 10.9% at 20.7 million euros.  The adjusted Earnings before interest, taxes, depreciation and amortization (EBITDA) was 19.5% in the quarter, while it stood at 20.0% last year.  

On the constant currency basis, the revenue growth was 6.3%.  The tubular glass revenue surged nearly 11% to 84.6 million euros. Revenue from plastic systems improved 3.5% to 107 million euros.

Meanwhile, moulded glass revenues rose 11.6% from last year at 95.6 million euros.  The life science research revenues rose around 18% to 27.7 million euros.  Furthermore, sales of pharmaceutical plastic packaging products in South America developed really well. 

The German pharma and healthcare industry supplier also achieved good growth in sales of vials, flacons and jars for the cosmetic and pharmaceutical industries. Besides, the demand for self-medication and diagnostic products like asthma inhalers, insulin pens and lancing devices for the diabetics also was high. 

Gerresheimer AG is a manufacturer of high-quality specialty products made of glass and plastic for the healthcare and pharma industry. Its portfolio of products includes pharmaceutical vials to complex drug delivery systems like the syringe systems, insulin pens and inhalers for safe medication dosage and application.