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Germany's Gerresheimer eyes pick-up in second half
July 13, 2017 / 5:46 AM / 5 months ago

Germany's Gerresheimer eyes pick-up in second half

FRANKFURT, July 13 (Reuters) - German drugs-packaging maker Gerresheimer said it expected business to pick up in the second half of this year after a second quarter that showed further evidence of caution by U.S. customers due to uncertainty over healthcare policy.

Sales fell 2.2 percent to 339.5 million euros ($388.49 million), in line with the average estimate of 340 million euros in a Reuters poll, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 6 percent to 75.8 million euros, missing the average estimate of 77 million.

Gerresheimer forecast full-year 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.

“We expect that our business will visibly pick up again, especially in the fourth quarter,” CEO Uwe Roehrhoff said in a statement.

$1 = 0.8739 euros Reporting by Victoria Bryan and Georgina Prodhan

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