Gerresheimer raises revenue guidance for 2022 to double-digit growth after strong first quarter
- First-quarter revenue grew organically by 19.1%
- Adjusted EBITDA up organically by 10.6%
- Gerresheimer raises revenue guidance to double-digit growth for 2022
Duesseldorf, April 7, 2022 - Gerresheimer AG, a leading provider of healthcare & beauty solutions and drug delivery systems for pharma, biotech and cosmetics, made a strong start to its 2022 fiscal year. The company delivered double-digit growth in both revenue and adjusted EBITDA in the first quarter and raises its 2022 revenue guidance. "We delivered an excellent first quarter demonstrating that our growth investments are paying off", said Dietmar Siemssen, CEO of Gerresheimer AG. In the first quarter, all divisions contributed double-digit revenue growth. "Gerresheimer is on-track to achieve another record year", Siemssen added. "We have a strong order book and experience increasing demand for existing as well as new products and solutions. The development gives us the confidence to raise our revenue guidance for 2022 to double-digit organic revenue growth." Previously, Gerresheimer guided for high single-digit organic revenue growth in 2022.
In the first quarter of fiscal year 2022, Gerresheimer group generated revenues of 371m Euro with an organic growth rate of 19.1%. Our focus on investing in key growth drivers, such as High Value Solutions in pharma and beauty, Regional Expansion und Contract Manufacturing, paid off and all divisions achieved double-digit growth as a result. Revenue growth was also supported by the current dynamic pricing environment. Adjusted EBITDA rose to EUR 62m. Without considering FX effects organic growth was 10.6%. Adjusted earnings per share rose organically to 0.64 Euro with an organic growth rate of 8.5%.
Gerresheimer continues to successfully navigate through the current inflationary business environment by making use of its pricing power and benefitting from its long-term hedging strategy against volatile energy prices. At the same time, Gerresheimer continues to improve the energy mix in its facilities in line with its sustainability strategy.
In the Primary Packaging Glass Division sales were up by 21.8% organically pushed by strong demand for our High Value Solutions and high-quality ready-to-fill vials. The adjusted EBITDA grew organically by 11.1%.
The Plastics & Devices Division revenues grew organically by 16.9%, based on a strong performance in all business units. The adjusted EBITDA increased organically by 15.3%.
The Advanced Technologies Division performed as expected with a slight increase in revenues and adjusted EBITDA on prior year's levels. For this financial year, Gerresheimer expects support through the development of the new pump for a large US biotech company focussing on rare diseases, a contract announced in December 2021.
Based on the successful development in the first quarter and the strong order book, Gerresheimer has raised its guidance for organic revenue growth in 2022.
Guidance for FY 2022 (For group level, FXN):
- Organic revenue growth: double-digit (previously high single-digit)
- Organic adjusted EBITDA growth: high single-digit
- Adjusted EPS growth: high single-digit
Mid-term Guidance (For group level, FXN)
- Organic revenue growth: high single-digit
- Organic adjusted EBITDA margin: of 23-25%
- Adjusted EPS growth: >10% p.a.
The quarterly report is available here:
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Gerresheimer is the global partner for pharmaceutics, biotech, healthcare, and cosmetics with a very broad product range for pharmaceutical and cosmetic packaging solutions and drug delivery systems. The company is an innovative solution provider from concept to delivery of the end product. Gerresheimer achieves its ambitious goals through a high level of innovative strength, industrial competence and concentration on quality and customer focus. In developing innovative and sustainable solutions, Gerresheimer relies on a comprehensive international network with numerous innovation and production centers in Europe, America and Asia. Gerresheimer produces close to its customers worldwide with around 10,000 employees and generated annual revenues in 2021 of around EUR1.5b. With its products and solutions, Gerresheimer plays an essential role in people's health and well-being.