DUESSELDORF (dpa-AFX) - Gerresheimer AG (GRRMF.PK), a German maker of packaging products for medication and drug delivery devices, reported that its fourth quarter adjusted net income rose to 52.7 million euros from the prior year's 48.6 million euros, with adjusted earnings per share improving to 1.51 euros from 1.49 euros in the previous year.
Earnings per share for the fourth quarter was 1.20 euros up from 1.05 euros in the prior year.
Quarterly revenues increased to 545.2 million euros from 528.7 million euros in the prior year.
The Management Board and Supervisory Board will propose a dividend of 1.25 euros per share for the 2023 financial year at the Annual General Meeting. This corresponds to a payout ratio of 28.0%. The proposed dividend is therefore once again at the upper end of the payout range of 20% to 30%.
Gerresheimer continues to expect profitable growth in the years ahead.
On an organic basis, the company projects adjusted earnings per share growth to be 8%-12% and revenue growth of 5% - 10% for fiscal year 2024.
For fiscal year 2025, the company expects adjusted earning per share growth to be greater than or equal to 10% and revenues growth of 10% - 15% on an organic basis.
The Group's medium-term guidance includes organic revenue growth of at least 10%; and adjusted earnings per share growth of at least 10% a year.
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