DUESSELDORF (dpa-AFX) - Gerresheimer AG (GRRMF.PK), a German maker of packaging products for medication and drug delivery devices, on Thursday reported a rise in earnings for the first-quarter ended on February 28, as increase in revenue was driven by a double-digit growth achieved by all divisions.
In addition, for full year 2023, the company has reaffirmed its outlook.
For the three-month period, the Dusseldorf-headquartered firm posted a net income of 13.473 million euros or 0.38 euro per share, compared with 11.702 million euros or 0.34 euro per share, recorded for the same period of previous year.
Excluding items, profit stood at 23.7 million euros or 0.71 euro per share, higher than 20.9 million euros or 0.63 euro per share of previous year.
Pre-tax income was at 20.253 million euros as against last year's 16.086 million euros.
Operating earnings moved up to 31.018 million euros from 21.510 million euros of 2022.
Adjusted EBITDA stood at 78 million euros, versus 61.5 million euros of last year quarter.
Revenues improved to 457.8 million euros from 370.8 million euros, during the corresponding period of 2022.
Dietmar Siemssen, CEO of Gerresheimer AG, said: '.Our order books are very well filled and we expect continued double-digit growth in revenues and Adjusted EBITDA with a further year-on-year improvement in margins. We are on track for another record year.'
Looking ahead, for 2023, the company reiterated its outlook for adjusted income per share of 4.63 euros, and adjusted EBITDA of 350.9 million euros, on revenue of 1.793 billion euros.
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