COMUNICADO: Gerresheimer Extends Business Model and Increases Growth Forecast (3)

Publicado 11/07/2018 23:16:19CET

Based on current visibility and demand-side indications from customers, the Company expects-as already communicated-a strong second half year in 2018. The forecast for revenues at constant exchange rates in the financial year 2018 is between EUR 1.38bn and EUR 1.4bn, which is at the upper end of the previous expectation. For adjusted EBITDA at constant exchange rates, the Company continues to project a range of EUR 305m to 315m for the financial year 2018, compared with adjusted EBITDA of EUR 307.2m[1] in the financial year 2017. As a company that largely serves the US market with US products, Gerresheimer also gains an one-off positive effect from the US tax reform in the amount of USD 52.9m as a result of remeasurement of deferred taxes accounted for in the first quarter of 2018. Had the impact of the US tax reform already applied in the financial year 2017, there would have been a positive effect in the low single-digit millions of euros on current income taxes and net income for 2017.

Largely due to the favorable growth prospects, and driven by initiatives to boost productivity and quality, capital expenditure in the financial year 2018 is expected to amount to around 8% of revenues at constant exchange rates.

Long-term targets 

Gerresheimer's long-term target for the entire Group, including Sensile Medical, is as follows:

- The Gx ROCE forecast remains unaltered, despite the acquisition of Sensile Medical, at approximately 15%. - Due to the acquisition of Sensile Medical and the associated purchase price payment, the Company expects a temporary increase in adjusted EBITDA leverage to above 3.0x. Gerresheimer nonetheless continues to consider a figure of 2.5x to be about right for the ratio of net financial debt to adjusted EBITDA, with temporary variation above or below this tolerated because M&A activity cannot be planned in exact detail.

1. Excluding the effect from fair value measurement of the Triveni put option.

Estimates for the years 2019 to 2022 and the assumptions for the new division, including Sensile Medical, will be given in further detail in the guidance provided by the Company on publication of its Annual Report 2018 in February 2019.

The full quarterly report is available here: http://www.gerresheimer.com/en/investor-relations/reports

For further information: http://www.presseportal.de/nr/9072/dokument?langid=2

Gerresheimer AG Klaus-Bungert-Strasse 4 40468 Düsseldorf Germany Jens Kürten Group Senior Director Communication & Marketing Phone: +49-211-6181-250 Telefax: +49-211-6181-241 E-Mail: j.kuerten@gerresheimer.com Website: http://www.gerresheimer.com

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