German pharmaceutical & cosmetic packaging manufacturer Gerresheimer AG again increased its sales & results in the 2Q 2008. Compared to the 2Q 2007, sales improved by 12.8% to EUR 276.3M. Operating results (adjusted EBITDA) rose by 20.2% to EUR 53.6M. In the 2Q 2008 Gerresheimer therefore achieved an adjusted EBITDA margin of 19.4% (18.2%/2Q 2007). The sales trend in the market segments of pharmaceutics & cosmetics as well as the latest acquisitions contributed to this development. Overall, Gerresheimer continued the improvement in its earnings position in the 2Q & the 1H of 2008 as a whole. Gerresheimer's recent discontinuation of peripheral operations such as consumer health care has confirmed its concentration on pharmaceuticals and life science. "Following our record year in 2007 we have again increased our sales and profit in the 1H of 2008", said Dr. Axel Herberg, CEO of Gerresheimer AG. "We expect further growth in all divisions during the course of the year and will consistently continue to focus on pharma & life science". Gerresheimer's recent discontinuation of peripheral operations such as consumer health care has confirmed its concentration on pharmaceuticals and life science. Thanks to the positive development in the 2Q 2008, a marked improvement in results has been achieved for the 1H 2008 as a whole. Sales rose by 15.2%, or 18.9% on a like-for-like exchange-rate basis, to EUR 515.4 million (EUR 447.3 million in the 1H 2007). Operating results (adjusted EBITDA) increased by 20.3% from EUR 80.3 million in the 1H 2007 to EUR 96.6 million. This positive development was supported by good performance by all the divisions.
