Gerresheimer looking to emerging markets following solid start to financial year

By Andrew McDougall

- Last updated on GMT

Related tags Revenue

Glass packager Gerresheimer has posted a strong growth in revenues in the first quarter of the 2012 financial year and has looked to the emerging markets following the acquisition of a company in India.

Gerresheimer’s adjusted EBITDA was €44.3m in the first quarter of 2012, 6.2 per cent higher than the prior year figure. Net income of €6.8m was slightly below the prior year’s €7.1m.

Its revenues increased by 13.6 per cent to €268.8m, with currency effects having no impact on revenues.

All sectors chipping in

Core business operations, comprising pharmaceutical primary packaging products and medical devices made of glass and plastic, made an important contribution to the revenue growth. However, the cosmetics and laboratory glass businesses also had a positive start to the year.

“We’ve got off to a very good start and are able to report excellent growth in revenues,”​ said Uwe Röhrhoff, Chief Executive Officer of Gerresheimer AG.

“We are continuously expanding our operations in the emerging markets. Our most recent acquisition of the Indian company Neutral Glass is an important milestone in our efforts to build our presence in the fast-growing Indian market,”​ he added.

Acquisition adds strength

Earlier this month, Gerresheimer signed a contract on acquiring a majority shareholding in the Indian company Neutral Glass.

Neutral Glass is a manufacturer of glass packaging products, and generated annual revenues of approximately €15m in the 2010/11 financial year, and it has some 600 employees.

After opening a Sales & Service Office in Mumbai in 2010, the acquisition of a company with local production was a strategically important move says Gerresheimer.

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