Gerresheimer gets off to strong start in 2012

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Medical injection moulder Gerresheimer says it has started the 2012 financial year with strong growth as group revenues rose 13.6% to €268.8m in the first quarter.

“We’ve got off to a very good start and are able to report excellent growth in revenues,” CEO Uwe R"hrhoff said in a statement. “Global demand for pharmaceutical packaging and products for the safe and reliable administration of medications is very high.”

Adjusted ebitda was €44.3m, 6.2% higher than the prior year figure.

The company said one reason for growth was its expanding presence in emerging markets. During the period the company signed a contract to acquire Neutral Glass, a pharmaceutical packaging company based in India.

Gerresheimer has therefore raised its revenue growth forecast for the 2012 financial year to reflect the sharp increase in revenues at the beginning of the year and the acquisition of the Indian company.

It is now expecting 7-8% revenue growth this year.