Gerresheimer reported revenue growth in the first quarter of fiscal 2011, citing demand from the pharmaceutical and cosmetics sectors as the key drivers.
The German packaging company’s Revenue for the three months ended February 28 grew 5.2 per cent to €237m ($338m), while operating profit leapt up 36 per cent to €16.8m.
Gerresheimer attributed the gains to increasing demand for pharmaceutical bottles, injection vials, ampoules, insulin pens and inhalers as well as growth for its range of cosmetics packaging products.
Spokesman Jens Kuerten told in-Pharmatechnologist.com that: “Pharma bottles (moulded glass) were strong overall, but particularly in North America. Vials and ampoules did well too, with very good growth figures in China.”
He went on to say that: “Inhalers and insulin pens are fast growing markets and very good opportunities for us, “adding that “we have established very good customer relationships there.”
Gerresheimer also reduced its net financial debt by €84.4m in comparison with the prior year to €318.2m.
Debt reduction is likely to be something the firm continues to do this year given that this was one of the main motivations it gave for the refinancing move it made early last month .
Gerresheimer predicted that growth would continue in the result of fiscal 2011, forecasting that revenue growth will be between 7 and 8 per cent including the contribution from its recent acquisition, Brazilian plastics firm Vedat.
CEO Uwe Rohrhoff explained that the firm’s business with the pharmaceutical sector will be an important driver for this growth.
"The worldwide demand for medicines will continue to rise in the coming years. Demographic change, increasing incidence of acute and chronic diseases, growth of self-medication and the need for healthcare in the emerging countries will contribute to this.
“These megatrends provide the basis for our future growth. With our products and services we can contribute to improving health and well-being."
Gerresheimer also said that it plans to invest around €80m in additional infrastructure and capacity this year but did not go into detail.