Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Gerresheimer Rises as Quarterly Earnings Beat Estimates

Don't Miss Out —
Follow us on:

July 11 (Bloomberg) -- Gerresheimer AG, a German producer of pharmaceutical and health-care equipment, rose to a 4 1/2-year high after second-quarter profit beat analyst estimates and the manufacturer raised its revenue forecast.

Gerresheimer climbed as much as 6.1 percent to 39.25 euros, the highest price since October 2007, and was trading 5.2 percent higher at 12:52 p.m. in Frankfurt.

Net income in the three months through May rose to 15.9 million euros ($19.5 million) from 12 million euros a year earlier, the Dusseldorf-based company said today in a statement. Profit beat the 14.8 million-euro average of five analyst estimates compiled by Bloomberg.

The manufacturer said it now expects full-year sales to rise 9 percent to 10 percent compared with an earlier forecast of 7 percent to 8 percent growth. Gerresheimer said it’s investing in a new glass-container plant in India, adding to new capacity in Germany and the Czech Republic, and that its medical-plastics systems order book is “very good.”

“Gerresheimer has a very clever business model,” Moritz Dullinger, an analyst at Kepler Capital Market SA in Zurich, said in a phone interview today. “They sell a lot of their simpler products, like beakers and bottles, in emerging markets, while targeting the developed markets with special syringes and other more sophisticated products.”

To contact the reporter on this story: Myriam Wecker in Frankfurt at mwecker2@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.