Gerresheimer Remains on Track in 1st Half Year 2024

Gerresheimer AG has reported stable performance in the first half year of 2024. The company achieved organic revenue growth of 1.7% and adjusted EBITDA growth of 2.9%, reaching EUR 968.5 million and EUR 188.2 million, respectively. This growth was driven by the strong performance of the Plastics & Devices division, which saw a revenue increase to EUR 541.5 million and an adjusted EBITDA margin improvement to 25.5%.

Conversely, the Primary Packaging Glass division faced challenges due to destocking effects in the pharma business, resulting in a revenue decline to EUR 426.5 million and a 14.8% decrease in adjusted EBITDA. Despite this, Gerresheimer anticipates a significant business upturn in the second half of the year as new production lines come online and destocking effects diminish.

The management has confirmed the guidance for FY 2024, expecting organic revenue growth between 5% and 10% and adjusted EBITDA of EUR 430-450 million. The outlook for 2025 and mid-term remains optimistic, emphasizing continued profitable growth.