Gerresheimer AG said Thursday that its adjusted earnings and revenue jumped in the first quarter of the year on demand for plastic healthcare packaging and devices.
The German supplier of medical-packaging and healthcare products generated 457.8 million euros ($499.3 million) in revenue in the first quarter, up from EUR370.8 million in the same quarter last year, it said.
Earnings before interest, taxes, depreciation and amortization was EUR78 million, adjusted for restructuring and capital costs, a rise of 27%.
All divisions had double-digit revenue increases, but its plastic and devices division particularly fueled the growth with demand for packaging, inhalers, and pen injectors, Gerresheimer said.
The company, which credited the performance to its 2019 reorganization, confirmed its 2023 guidance of minimum 10% growth in both organic revenue and adjusted Ebitda.