Gerresheimer Q1 Earnings Climb; Ups Revenue Expectations
Gerresheimer AG (GRRMF.PK), a maker of medical packaging products, on Thursday posted a rise in its earnings for the first quarter of 2022, amidst a rise in revenue and decline in expenses. In addition, owing to strong quarterly results, the company has raised its revenue guidance for the full year.
For the first three-month period of 2022, the German firm reported a net income of 11.70 million euros or 0.34 euros per share, compared with 9.70 million euros or 0.29 euros per share, reported for the same period a year ago. It also recorded its pre-tax income at 16.08 million euros, versus 14.47 million euros.
The Düsseldorf-based company’s adjusted earnings for the period rose to 20.9 million euros or 0.63 euros per share, from 18.5 million euros or 0.57 euros per share, registered a year ago.
For the quarter ended in February, Gerresheimer posted an operating income of 21.51 million euros as against 19.16 million euros, on year-on-year basis.
The packaging product maker reported adjusted EBITDA at 61.5 million euros, compared with 54.2 million euros of the previous year quarter.
The company’s other operating expenses fell to 3.69 million euros, from 5.02 million euros, reported for the first quarter of 2021.
For the three-month period, Gerresheimer generated a revenue of 370.79 million euros as against 302.84 million euros, reported for the first three-month period of the last fiscal.
Looking ahead, for the fiscal 2022, the company now expects a revenue growth of at least 10 percent against its previous projection for a growth in the high single digit percentage range.
Source: Read Full Article