Gerresheimer AG have announced it began financial year 2014 with a solid start. "I am satisfied with our performance in Q1 of 2014. Our expectation is unchanged that we will meet our targets for 2014. We will continue to invest in promising projects in Europe, the Americas and emerging markets to lay the basis for further profitable growth," said Uwe Rohroff, CEO. The company generated revenues of EUR 297.5m in the first quarter of 2014, marking 0.3% revenue growth on the same quarter in the previous year. At constant exchange rates, revenues came to 304.2M/Euros, representing growth of 3.2%. As expected, the laboratory glassware divisions experienced a decline in demand during the first month of the first quarter due to de-stocking by a number of N American pharmaceutical customers. Demand for cosmetic glass was likewise slow at the beginning of Q1. There were, however, clear signs of improvement by the end of the quarter. Revenues went up substantially on customer-specific drug delivery devices such as insulin pens, inhalers, prefillable syringe systems and pharmaceutical plastic packaging. The company generated adjusted EBITDA of 47.6M/Euros in Q1 2014, an increase of 3.3% on the previous year's figure.
