Gerresheimer remains on track in 1st half year 2024

EQS-News: Gerresheimer AG / Key word(s): Half Year Results
Gerresheimer remains on track in 1st half year 2024

11.07.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Gerresheimer remains on track in 1st half year 2024

* Organic growth: revenues +1.7%, adjusted EBITDA +2.9%

  * Plastics & Devices division with good revenue growth and significantly
    improved margin

* Guidance confirmed

Düsseldorf (Germany), July 11, 2024. Gerresheimer, an innovative systems &
solutions provider and global partner for the pharma, biotech and cosmetic
industries, remains on track in the 1st half of FY 2024. Revenues reached
EUR 968.5m (1H 2023: EUR 957.4m), adjusted EBITDA EUR 188.2m (1H 2023: EUR
185.2m). Revenue growth was 1.7% and adjusted EBITDA growth was 2.9% in
organic terms. The adjusted EBITDA margin was 19.4%. Destocking effects for
customers in the Primary Packaging Glass division were offset by the good
revenue performance with a significantly improved margin in the Plastics &
Devices division. The margin expansion reflects a favorable product mix
change with a higher share of innovative and customized solutions. For the
2nd half year 2024, Gerresheimer expects a significant upturn in business
owing to new production lines ramping up and destocking effects fading out.
The Management Board has confirmed its forecast for FYs 2024 and 2025, as
well as the mid-term outlook. In 2024 Gerresheimer expects to generate
organic revenue growth of between 5 and 10%, as well as adjusted EBITDA of
between EUR 430 and 450 million.

"The results of the 1st half year 2024 underpin the resilience of our
business model," says Dietmar Siemssen, CEO of Gerresheimer AG. "With our
broad portfolio, we can offset market fluctuations in certain areas. By
increasing capacity for long-term customer projects and expanding our
portfolio, we will continue our profitable growth in the second half of 2024
and the years ahead."

Plastics & Devices: dynamic growth and improved margin

The Plastics & Devices division generated revenues of EUR 541.5m in the 1st
half year 2024 (1H 2023: EUR 494.1m). Organic revenue growth was 9.9%
year-on-year. The division benefited from strong demand for drug delivery
systems such as syringes, inhalers and pens, but also from continued high
demand for plastic containment solutions.

Adjusted EBITDA grew dynamically, reaching EUR 138.1m (1H 2023: EUR 116.3m).
Organic growth was 18.3% year-on-year. The adjusted EBITDA margin rose by
200 basis points to 25.5% (1H 2023: 23.5%).

The margin expansion reflects a favorable product mix change with a higher
proportion of specially tailored solutions, for example for
biopharmaceuticals, including GLP-1 applications for the treatment of
obesity.

Primary Packaging Glass: pharma business impacted by destocking effects

In the 1st half year 2024, revenues in the Primary Packaging Glass division
were EUR 426.5m (1H 2023: EUR 461.7m), a decline of 6.9% year-on-year in
organic terms. The decrease in revenues here is mainly due to the drop in
demand in the pharma business as a result of customer destocking effects.

The adjusted EBITDA was EUR 74.3m (1H 2023: EUR 90.1m). In organic terms,
the adjusted EBITDA equated to a year-on-year decrease of 14.8%. The
adjusted EBITDA margin fell by 210 basis points year-on-year from 19.5% to
17.4% in the 1st half year 2024.

Significant upturn in business expected in 2nd half of 2024

For the 2nd half of FY 2024, Gerresheimer expects a significant upturn in
business owing to new production lines ramping up and destocking effects
phasing out. Gerresheimer expects to continue its profitable growth in the
coming years, thanks to the high order backlog and capacity expansions for
long-term customer orders.

Guidance confirmed

With its order backlog, Gerresheimer expects to continue its profitable
growth, both in 2024 and subsequent years.

Guidance for FY 2024 (organic)

* Revenue growth: 5 -10%

* Adjusted EBITDA: EUR 430-450 million

* Adjusted EPS growth: 8-12%

Guidance for FY 2025 (organic)

* Revenue growth: 10 -15%

* Adjusted EBITDA margin: >= 22%

* Adjusted EPS growth: >= 10%

Mid-term guidance (organic)

* Revenue growth: >= 10%

* Adjusted EBITDA margin: 23-25%

* Adjusted EPS growth: >= 10%


The half year financial report is available on the Gerresheimer website at:

https://www.gerresheimer.com/en/company/investor-relations/reports

About Gerresheimer
Gerresheimer is an innovative systems and solutions provider and a global
partner to the pharma, biotech, and cosmetics industries. The company offers
a comprehensive portfolio of pharmaceutical containment solutions, drug
delivery systems and medical devices as well as solutions for the health
industry. The product range includes digital solutions for therapy support,
medication pumps, syringes, pens, auto-injectors and inhalers as well as
vials, ampoules, tablet containers, infusion, dropper and syrup bottles, and
more. With 35 production sites in 16 countries in Europe, America and Asia,
Gerresheimer has a global presence and produces locally for regional
markets. With around 12,000 employees, the company generated revenues of
around EUR2bn in 2023. Gerresheimer AG is listed in the MDAX on the Frankfurt
Stock Exchange (ISIN: DE000A0LD6E6).
www.gerresheimer.com

Contact Gerresheimer AG

   Media
   Jutta Lorberg Head of Corporate        Marion Stolzenwald Senior
   Communication T +49 211 6181 264       Manager Corporate Communication
   (1)jutta.lorberg@gerresheimer.com      T +49 172 2424185
   1.                                     (1)marion.stolzenwald@gerresheim
   mailto:jutta.lorberg@gerresheimer.c    er.com  1.
   om                                     mailto:marion.stolzenwald@gerres
                                          heimer.com
   Investor Relations
   Guido Pickert Vice President           Thomas Rosenke Senior Manager
   Investor Relations T +49 152 900       Investor Relations T: +49 211
   14145                                  6181-187
   (1)gerresheimer.ir@gerresheimer.com    (1)gerresheimer.ir@gerresheimer.
   1.                                     com  1.
   mailto:gerresheimer.ir@gerresheimer    mailto:gerresheimer.ir@gerreshei
   .com                                   mer.com

---------------------------------------------------------------------------

11.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   Language:       English
   Company:        Gerresheimer AG
                   Klaus-Bungert-Str. 4
                   40468 Duesseldorf
                   Germany
   Phone:          +49-(0)211/61 81-00
   Fax:            +49-(0)211/61 81-121
   E-mail:         gerresheimer.ir@gerresheimer.com
   Internet:       http://www.gerresheimer.com
   ISIN:           DE000A0LD6E6
   WKN:            A0LD6E
   Indices:        MDAX (Aktie)
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1943793

End of News EQS News Service
---------------------------------------------------------------------------

1943793 11.07.2024 CET/CEST