Gerresheimer predicts further sales growth despite downturn

Despite the downturn, sales in the German pharmaceutical specialist’s core division – its activity outside the suffering automotive sector – rose 2.8% to €228.7m in the first three months of the year.

Gerresheimer’s core products include glass and plastic pharmaceutical vials and drug-delivery systems for the pharmaceutical and life science industry such as sterile syringes and inhalers.

Including the automotive operation, the group’s sales slipped slightly from €239.1m in the first quarter of 2008 to €237.3 this year, with an overall operating margin of 16.1%.

The results highlight the resilience of certain sectors of the packaging market, such as healthcare, during the downturn. Gerresheimer chief executive Axel Herberg said: “Despite the difficult overall economic environment we continue to aim for profitable sales growth of around 6% to 7% in our core business for 2009.”

He added that he expected to post EBITDA of 19% for the full year in 2009.

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