Gerresheimer'S Third Quarter Net Loss Widens

German glass & plastic packaging manufacturer Gerresheimer AG said 15 Oct/08 that its net loss widened to EUR 22.8M in the 3Q 2008 from a loss of EUR 5.1M a year earlier. The loss was caused by writedowns of EUR 33M on its technical plastics business, which is up for sale. Adjusted earnings before interest, tax, depreciation & amortisation (EBITDA) were 14.1% higher year-on-year to EUR 50.3M for the 3Q. Adjusted operating profit more than doubled to EUR 16.5M on sales rising 7.2% to EUR 268M. CEO Axel Herberg maintained Gerresheimer's 2008 outlook for annual growth in sales of 9% to 11% & an adjusted EBITTDA margin of 19.5%