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ER - Gerresheimer AG: Gerresheimer strengthens results in the first-half 2007

Company: Gerresheimer AG Date: 2007-07-30 Language: English Register to download

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 News Details

Ad-hoc | 30 July 2007 07:35

#   

Gerresheimer AG: Gerresheimer strengthens results in the first-half 2007

**Gerresheimer AG / Half Year Results**

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc Meldung

Gerresheimer strengthens results in the first-half 2007

  - H1 (per May 31) Sales rose 40 percent to 447 million euros

  - Adjusted EBITDA climbed 47 percent to 80.3 million euros; improved
    Adjusted EBITDA margin of 18 percent

  - Profit and sales forecasts for 2007 strengthened

  - From Q3 reduced interest payments due to less debt

Gerresheimer AG continued its growth trend in the first-half of 2007, which
ended on May 31. Sales, which was consolidated with the sales of Wilden AG
for the first time, climbed by 40 percent to 447.3 (previous half year
2006: 320.6) million euros. Gerresheimer acquired the synthetic material
specialist Wilden in January 2007. The sharp 47 percent rise in Adjusted
EBITDA to 80.3 (54.5) million euros took place with an improved margin of
18.0 (17.0) percent. Profit from operations (EBIT) more than trebled to
23.8 (7.4) million euros. This already includes non-cash effective
amortizations of 17.5 (10.9) million euros due to successful acquisitions
(adjustments of fair-value amortizations).

Since June 11, 2007 Gerresheimer is listed at Frankfurt Stock Exchange’s
Prime Standard market. The IPO enriched Gerresheimer’s coffers by 456
million euros, mainly to be used for debt reduction and growth financing.
Because the reporting period is up to the end of May, the effect of the IPO
will first be seen in the results of the third quarter. The lower interest
burden will bring a distinctly positive earnings contribution.

For the financial year 2007 Gerresheimer expects further positive business
development with organic sales growth of 8 percent to 9 percent as well as
an Adjusted EBITDA margin approaching 19 percent.

Group Key figures:

In € million              Q2/2007  Q2/2006  in %   H1/2007  H1/2006  in %
Sales                      245.0    170.5   +43.7   447.3    320.6   +39.5
Adjusted EBITDA             44.6     31.1   +43.4    80.3     54.5   +47.3
in % of sales              18.2%    18.2%           18.0%    17.0%
Adjusted EBITA              28.8     19.0   +51.6    50.7     30.2   +67.9
in % of sales              11.8%    11.1%           11.3%     9.4%
Profit from operations      12.4      5.5            23.8      7.4
(EBIT)
Consolidated result        (4.0)    (5.8)   +31.0   (8.0)   (14.5)   +44.8
Cash Net Income\*             1.9    (3.0)     na      2.2    (8.6)     na

\* Cash Net Income is defined as the consolidated result after minority
interests and before non-cash fair value amortization and related income
tax effects.



Investor Relations
Phone: +49 211 6181 345
Fax: +49 211 6181 123
Email: investorrelations@gerresheimer.com


DGAP 30.07.2007 
----------------------------------------------------------------------
 
Language:     English
Issuer:       Gerresheimer AG
              Benrather Straße 18-20
              40213 Düsseldorf
              Deutschland
Phone:        +49-(0)211/61 81-00
Fax:          +49-(0)211/61 81-295
E-mail:       info@gerresheimer.com
Internet:     http://www.gerresheimer.com
ISIN:         DE000A0LD6E6
WKN:          A0LD6E
Indices:      
Listed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
              Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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