DUESSELDORF (dpa-AFX) - German drug delivery devices maker Gerresheimer AG (GRRMF.PK) reported Thursday that its fiscal 2018 net income rose to 131.1 million euros from 103.1 million euros last year.
Adjusted net income after non-controlling interests for the year rose to 178 million euros from 127.5 million euros last year. Adjusted earnings per share rose to 5.67 euros from 4.06 euros in the prior year.
The company attributed the increase in net income to the positive impacts of the U.S. tax reform.
Adjusted EBITDA, a key earnings metric, was 298.6 million euros, down 3.9 percent from 310.8 million euros last year. Adjusted EBITDA at constant exchange rates was 308.0 million euros, compared with 310.8 million euros in the prior year.
Revenues for the year grew 1.4 percent to 1.37 billion euros from 1.35 billion euros a year ago. Revenues at constant exchange rates increased 4.3 percent.
Further, the company proposed an increase in the dividend to 1.15 euros per share from 1.10 euros per share in the prior year.
Looking ahead to fiscal 2019, Gerresheimer forecast adjusted EBITDA of about 295 million euros plus or minus 5 million euros, and revenues in a range of about 1.40 billion euros to 1.45 billion euros.
For the years from 2020 to 2022, the company expects average annual growth in revenues at constant exchange rates in the 4 percent to 7 percent range, and adjusted EBITDA margin of 21 percent in 2020 as well as 23 percent in 2021 and 2022.
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