Gerresheimer Reports Positive Q1 2024 Earnings, Confirms Annual Guidance

Gerresheimer AG, a leading global partner for the pharma, biotech, and cosmetics industries, has announced a strong start to the financial year 2024. In the first quarter, the company achieved organic revenue growth of 2.8% and a 5.9% increase in adjusted EBITDA. This growth was primarily driven by the Plastics & Devices Division, which saw robust demand for its drug delivery systems. The company reported adjusted EBITDA of EUR 80.9 million, up from EUR 78 million in Q1 2023, with revenues reaching EUR 466.1 million.

The company's capacity expansion efforts in the Americas, Europe, and Asia are advancing as planned, supporting its growth trajectory. The adjusted EBITDA margin improved organically by 50 basis points to 17.3%. Gerresheimer has confirmed its financial guidance for 2024 and 2025, projecting organic revenue growth between 5% and 10% for 2024, with adjusted EBITDA expected to be between EUR 430 million and 450 million.

The Plastics & Devices Division stood out by generating EUR 258.4 million in revenues for the quarter, marking a 13.7% year-on-year organic growth. Demand for syringes, pens, and inhalers contributed significantly to this growth. Conversely, the Primary Packaging Glass Division saw a 7.2% decline in organic revenue due to decreased pharma business stemming from customer inventory effects.

CEO Dietmar Siemssen expressed optimism about the company's growth momentum and confirmed the full-year guidance. Gerresheimer anticipates continuing its profitable growth path into 2024 and beyond, driven by a high order backlog and expansion strategies.