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Gerresheimer Q3 profit down, margin up

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Staff Writer | October 11, 2017
Gerresheimer reported that its third-quarter net income from continuing operations declined 16.1 percent to 26.3 million euros from last year's 31.3 million euros.
Gerresheimer
Gerresheimer   Adjusted EBITDA decreased 4.4 percent
Adjusted net income from continuing operations was 32.1 million euros, compared with 37 million euros a year ago. Adjusted earnings from continuing operations per share were 1 euro, as against 1.17 euros in the prior-year quarter.

Adjusted EBITDA decreased 4.4 percent from last year to 77.6 million euros. However, adjusted EBITDA margin slightly improved to 23.4% from last year's 23.2%, with strict cost control and ongoing focus on operational efficiency.

Revenues declined 5.4 percent to 331.5 million euros from 350.4 million euros a year ago. Organic revenue decrease was 4.3%.

The third quarter saw a continuation of the lower demand for medical plastic systems from a number of pharma customers where Gerresheimer is the sole supplier.

Looking ahead, the company said it expects good fourth quarter.


 

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