Gerresheimer AG (GRRMF.PK) has revised its financial projections for 2024 and 2025 due to a slower-than-anticipated market recovery in 2024 and subdued market growth in 2025 within the vial industry.
The company reported that the current flooding at its Morganton vial plant in the United States, instigated by Hurricane Helene, has resulted in a production halt for several weeks, further influencing their outlook.
For the fiscal year 2024, Gerresheimer AG now anticipates organic revenue growth to fall between 3% and 4%, a reduction from the previously anticipated 5% to 10%. Adjusted EBITDA is projected to range from 415 million euros to 430 million euros, down from the earlier forecast of 430 million to 450 million euros.
Furthermore, the company expects adjusted earnings per share for the fiscal year 2024 to increase by 2% to 8%, compared to the previous estimate of an 8% to 12% rise.
Looking ahead to the fiscal year 2025, organic revenue growth is now expected to be between 7% and 10%, revised down from the prior forecast of 10% to 15%.
The adjusted EBITDA margin for 2025 is anticipated to be around 22%, slightly below the earlier expectation of above 22%.
Despite these adjustments, the company's mid-term guidance remains unchanged.