DUESSELDORF (dpa-AFX) - Gerresheimer AG (GRRMF.PK), a German maker of packaging products, on Thursday reported a decline in net profit for the second quarter, reflecting higher expenses. However, the company registered an improvement in revenue.
For the three-month period to May 31, the company posted a net profit of 17.023 million euros, or 0.49 euro per share, lower than 32.462 million euros, or 0.94 euro per share, in the same period last year.
Excluding items, earnings slipped to 31.6 million euros, or 0.90 euro per share, from 43.5 million euros, or 1.24 euros per share, in 2024.
Income before income taxes was 28.777 million euros as against 43.736 million euros. Operating earnings were 50.668 million euros, compared with 55.637 million euros in 2024.
Other operating expenses increased to 13.577 million euros from last year's 8.077 million euros. Selling and general administrative expenses stood at 105.306 million euros as against the prior year's 93.257 million euros. Cost of sales was 442.825 million euros, compared with 353.723 million euros a year ago.
Revenue was 600.655 million euros, up from 502.378 million euros in the previous year.
Looking ahead, Gerresheimer has revised down its annual outlook.
The company now expects adjusted income per share to decrease in the low double-digit percentage range against the earlier outlook for growth in the high single-digit percentage range.
Gerresheimer now projects full-year organic revenue growth to be in the range of 0% to 2%, compared with the prior guidance of 1% to 2%.
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