Shares of Gerresheimer AG (ETR:GXI) are soaring by more than 8% on Thursday after the German pharmaceutical packaging firm reported more than a 140% surge in net income for the second quarter and reiterated its full-year revenue guidance.
Gerresheimer, the German-based manufacturer of primary packaging products for medication reported a net profit of €47.1m for the three months to 31st May compared with €19.3m in the previous year. Likewise, the quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) surged by 38% to €99.4m while revenues rose 7.2% to €356.5m respectively.
Gerresheimer maintained its revenue outlook of €1.40-1.45bn for full-year 2019 while it anticipated adjusted EBITDA to come in at around €295m, +/- €5m, excluding the €118.5m already accounted for from the acquisition of Sensile Medical.
At 12.30pm GMT on Thursday, shares of Gerresheimer were trading at €70.65, soaring 8.61% for the session. The company’s stock has had a rollicking year with prices jumping more than 23% YTD compared to the 17% gains on the DAX 30.
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