And even in the business with orally, liquid medication is not run smoothly. The Düsseldorfers screwed their growth goals back for the current year, as they announced on Thursday together with their half -year figures. And even in the coming years, growth should be weaker than previously predicted.
UBS analyst Olivier Calvet was relieved that there were no other negative factors with Gerresheimer. His Jefferies colleague James Vane Tempor was not surprised by the cut of the medium-term forecast after the business development was difficult to assess. In addition, he praised the quarterly figures, which in his view were about expectations.
Gerresheimer boss Dietmar Siemssen meanwhile showed off. It is not an easy year for Gerresheimer, said the manager. The second quarter was “disappointing”. However, he expects a stronger second half of the year and promised to optimize processes and reduce the costs. It is a clear goal to achieve a positive cash flow in 2026.
For the current year, he now had to screw his growth ambitions even further. Even in the coming years, business growth should be weaker than previously predicted. For the financial year 2025 to the end of November, Siemssen now only expects revenue development from its own power from stable to plus 2 percent. Since the winning warning in early June, it had expired from 1 to 2 percent of growth. He stuck to the goal of an adjusted operational profit margin (EBITDA) of around 20 percent.
In the medium term, sales should increase organically by an average of 6 to 9 percent per year. So far, Gerresheimer had assumed 8 to 10 percent growth. The adjusted operational profit margin should continue to be 23 to 25 percent in the medium term. In the medium -term planning, Gerresheimer includes the ongoing and the next four years.
The company had already announced a month ago that the current financial year should be weaker by the end of November than for the forecast than before. Gerresheimer had also submitted key data for the second quarter.
Sales rose by almost a fifth to almost 601 million euros in the three months to the end of May. The purchase of Bormioli Pharma gave momentum. Sales growth was weaker on its own.
Before interest, taxes, depreciation and special effects (adjusted EBITDA) remained around 119 million euros and thus almost 11 percent more than a year earlier. The bottom line is that the profit, which has been eliminated by shareholders, was almost around 17 million euros – especially due to increased interest payments.
At the beginning of June, the Gerresheimer board also announced that the dividend for the past financial year was reduced to the legal minimum due to the cloudy business prospects. The managers did not want to provide any information on Thursday what this looks like for the current year. This will be decided and communicated at the end of February 2026 with the submission of the total number of year.
This is how the Gerresheimer share reacted
Investors from Gerresheimer have digested the further reduction in the growth forecast on Thursday. The shares of the manufacturer of special packaging were still sagged by up to 5.7 percent in the morning before they gradually recovered and turned into the plus. In the meantime, they had also climbed over the 50-euro brand, under which they were saked after a winning warning in early June.
At the end of the trade, a profit from Gerresheimer’s papers was 4.47 percent to EUR 50.50.
Gerresheimer continued to burden the weak demand in the cosmetics market in his second business quarter. And even in the business with orally, liquid medication is currently not going smoothly.
Gerresheimer had announced a month ago that the current financial year (by the end of November) should be weaker than for the forecast and presented key data for the second quarter. On Thursday, the management lowered its sales forecast a little further, as well as that for the medium -term perspective.
Analysts have meanwhile become disagree whether the reduction in growth forecasts was the hoped -for cleaning thunderstorm. At least somewhat confident is the expert Ed Hall from the investment bank Stifel. With the better second quarter, the manufacturer of special packaging with its now more realistic goals may move in the right direction. In 2025, however, some still had to happen in terms of acceleration in the second half of the year.
The specialist Christian Ehmann from the Warburg Analysis Research was skeptical. Despite all the optimum of the management, the quarterly figures confirmed the continuing headwind in which the manufacturer is standing of special packaging. The area of containment solutions around the protection of products from contamination remains a brake for corporate development.
From a chart -technical point of view, the picture remains cloudy. Since the course slip in early June, the shares under the 50-day average line, which describes the medium-term trend. The course is significantly removed from the much-noticed 200-day line as a measure of long-term development.
But at least the share price reached 42.48 euros after the mid -June, the lowest level has recovered since the end of 2014. Gerresheimer will at least again write down at the height of the 21-day line, which shows short-term development.
/LEW/STW/JHA/
Düsseldorf (dpa-Afx)
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