Gerresheimer AG has reported strong results in financial year 2016 with figures within its annual guidance.
The German manufacturer of glass and plastic pharma and cosmetics packaging increased revenues by 7.2% to €1.37bn in the financial year ending 30 November, the company announced 15 February.
The growth in revenue was driven by inhalers, plastic pharma packaging, injection vials and cosmetic glass.
Adjusted earnings (EBITDA) rose €307.8m and at constant exchange rates to €311.3m which was at the upper end of the company’s guidance range of €305m plus or minus €10m.
Net income increased by 49.3% to €168.2m, notably due to the sale of the Life Science Research Division, which was completed in October 2016.
“2016 was a successful year for us. We delivered on our guidance for all key performance indicators and have grown substantially,” said Uwe Röhrhoff, CEO of Gerresheimer AG.
The company, he said, will focus on expanding its development capabilities and product portfolio for the biotech and speciality pharma industry.
In addition to expansions in some of its glass facilities, the company also expanded its Peachtree City plant in the US, which produces medical plastic systems such as asthma inhalers.
“We are optimistic for the future and continue to invest in key growth markets, even though the beginning of financial year 2016/17 appears to be more difficult than the start of the prior year,” Uwe Röhrhoff concluded.