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8 days ago
UPDATE 1-Germany's Gerresheimer trims forecast, eyes H2 pick-up
July 13, 2017 / 7:44 AM / 8 days ago

UPDATE 1-Germany's Gerresheimer trims forecast, eyes H2 pick-up

2 Min Read

* Now sees FY EPS around 4.25 eur vs range of 4.20-4.55 eur

* CEO eyes "visible" fourth-quarter pickup

* Shares at 19-month lows, down 2.7 percent (Adds details on forecast, shares)

FRANKFURT, July 13 (Reuters) - German drugs-packaging maker Gerresheimer trimmed its full-year forecast on Thursday after a second quarter that showed further evidence of caution by U.S. customers due to uncertainty over healthcare policy.

Gerresheimer said it now expected adjusted earnings per share after minorities of around 4.25 euros, towards the lower end of its previously given range of 4.20 to 4.55 euros.

Shares in the Duesseldorf-based company fell to a 19-month low, trading down 2.7 percent at 68.63 euros by 0734 GMT, against a flat German mid-cap index.

"We expect that our business will visibly pick up again, especially in the fourth quarter," Chief Executive Uwe Roehrhoff said in a statement.

Sales fell 2 percent to 340 million euros ($388 million), in line with the average estimate in a Reuters poll, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 6 percent to 76 million euros, just below consensus for 77 million.

Gerresheimer stuck to its other full-year forecasts for revenues of 1.4 billion euros, an increase of around 2 percent, and adjusted EBITDA of around 320 million euros, an increase of roughly 4 percent.

$1 = 0.8739 euros Reporting by Victoria Bryan and Georgina Prodhan; Editing by Maria Sheahan

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