Newly floated pharma/cosmetics glass manufacturer Gerresheimer AG continued its growth trend in the first-half of 2007 to 31 May. Sales, which were consolidated with the sales of Wilden AG for the first time, increased by 40% to EUR 447.3M (320.6M). Gerresheimer acquired the synthetic material specialist Wilden in January 2007. Profit from operations (EBIT) more than trebled to EUR 23.8M. This already includes non-cash effective amortizations of EUR 17.5M due to successful acquisitions (adjustments of fair-value amortizations). Cash net income improved to EUR 2.2 (negative 8.6)M in the 1H 2007. "The positive operating trend continued in the 2Q", said Dr. Axel Herberg, CEO of Gerresheimer AG. "Following the successful listing we are reinforcing our position as a leading world partner in the pharma & life sciences industry". In the 2Q 2007 standalone (March-May) sales rose by more than 43% to EUR 245 million from EUR 170.5 million a year ago. Adjusted EBITDA improved by 43.4% to EUR 44.6 million. Profit from operations (EBIT) more than doubled quarter-on-quarter to EUR 12.4 million from EUR 5.5 million a year ago. Cash net income in the 2Q was EUR 1.9 million compared with a negative EUR 3.0 million a year ago.
