DUESSELDORF (dpa-AFX) - Gerresheimer AG (GRRMF.PK), on Tuesday, reported higher earnings for the third quarter, reflecting strong revenue growth.
The company's Q3 adjusted net income stood at EUR 32 million, and adjusted earnings per share stood at EUR 1.01 in organic terms, equating to year-on-year growth of 5.2 %. Organic growth in adjusted earnings per share over the first nine months of the financial year came to 16.3 %.
Group revenue for the quarter was EUR 382 million, up by 10% on organic basis and by 9.8% in core business. The company achieved organic growth of 6.9 % in its core business in the first nine months of the year.
Dietmar Siemssen, CEO of Gerresheimer AG, said, 'The third quarter once again shows the success of our growth strategy. The strong and further rising demand for our innovative and sustainable solutions proves our effective transformation. As an innovative solutions and platform provider, we are a strong partner to our biotech, pharma and cosmetics customers. Our broad range of high-value solutions, devices and products gives us a unique market presence. In addition, our global footprint forms solid foundations on which we can build.'
Looking ahead, the company reaffirmed its guidance for the current financial year and its medium-term outlook. The company expects to achieve the upper end of its guidance for the financial year 2021 with regards to organic sales growth, while the Adjusted EBITDA margin will be at the lower end. Regardless of rising raw material and energy costs, the company is on track to achieve its absolute Adjusted EBITDA targets.
The company still sees FY21 core revenue growth in the mid-single-digit percentage range, adjusted earnings per share to improve by around 10%, and adjusted EBITDA margin between 22% and 23%.
Copyright RTT News/dpa-AFX