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Gerresheimer Reports Record Year
Posted: February 27, 2008Gerresheimer AG ended fiscal 2007 with sales of €957.7 million, an increase of 48.1% over 2006. Excluding acquisition and exchange-rate effects, Gerresheimer reports above-average sales growth of 8.4%.Operating results (adjusted EBITDA) rose by 48.1% from €122.6 million in 2006 to €181.6m.
“We have achieved all the targets we set ourselves for 2007 and in many cases exceeded them. For our company we look back over a very successful financial year”, said Axel Herberg, CEO, Gerresheimer AG. “For the financial year 2008 we expect further sales growth, with an improved margin.”
According to the company, its growth is attributable to above-average organic growth and acquisitions. The Wilden Group, acquired in early 2007, has been fully integrated and made a sustained contribution to the results of the Gerresheimer Group. Gerresheimer has also expanded its global presence through a number of acquisitions and joint ventures. The company now operates in a worldwide total of 41 locations and employs more than 10,800 people.
Sales by the tubular glass division in 2007 totalled €271.2 million, up 11.4% on the prior year level of €243.4 million. The plastic systems division achieved sales of €299.7 million, compared with €48.2 million in 2006. Increased sales of bottles for the pharmaceutical industry and of perfume flacons and cream pots for the cosmetics industry resulted in organic sales growth of 8.7% for the molded glass division.