The marked improvement in operating results also had a positive effect on cash flow. A total of EUR 62.3m was applied to further debt repayments. Net financial debt at the end of the year was therefore at the historically low level of EUR 311.0m.

"In 2010 we achieved our targets and even exceeded some of them. In the coming years we will further expand our position as a full service provider in the important growth markets such as diabetes and generics for example. In doing so the emerging countries play an increasing role. We want to grow our revenues substantially in these markets, and to double them by 2013 to EUR 200m," Rohrhoff says.

Outlook

For the financial year 2011 Gerresheimer assumes further revenue growth of 3% to 4% at constant exchange rates. This is equivalent to nominal revenue growth of 4% to 5%. With regard to the EBITDA margin the company assumes a level of around 20%. In 2011 the company expects to invest around EUR 80m. The Management Board proposes to the General Meeting a dividend payment of EUR 0.50 per share for the financial year 2010.

Source: GERRESHEIMER AG