Gerresheimer AG’s revenue grew 6.7% year-over-year during its third quarter — with adjusted earnings up 2% — as medical plastic systems continued to be a revenue growth driver, especially due to the company’s U.S. inhaler project.
Revenues for the quarter ended Aug. 31 were 353.7 million euros (equivalent to $399.7 million), up from 331.5 million euros ($374.6 million) during the same period a year ago, the Duesseldorf, Germany–based company announced today. Adjusted net income was 32 million euros ($36.3 million), or 1.02 euro per share ($1.15 per share), up from 31.3 million euros ($35.4 million), or 1 euro per share ($1.13 per share), a year before.
When revenues were calculated at a constant exchange rate, the third-quarter growth was even higher: 8.8%.
“Our business is pulling ahead as expected: The third quarter went well. We are consequently confirming our revenue guidance for this year,” Rainer Beaujean, speaker of the company’s management board and CFO, said in a news release.
Beaujean also noted that the integration of the recently acquired Sensile Medical and its liquid drug delivery technology is proceeding fully to plan. “Its first product has gained European certification and is now being brought to market by the pharma company concerned.”
Also today, Gerresheimer announced that Andreas Schütte will step down from the company’s management board, as of Feb. 28, 2019. Schütte, 56, is stepping down at his own request to pursue career challenges, according to the company. Schütte has been on the management board since 2009 and has led Gerresheimer’s’Plastics & Devices and Advanced Technologies Divisions. Dietmar Siemssen, who will become Gerresheimer’s CEO on Nov 1, will take over Schütte’s responsibilities after he leaves.