Gerresheimer, Macfarlane Group report increase in revenue for FY22

GERMANY – Packaging company Gerresheimer has reported full-year revenue of €1.81 billion (US$1.92bn) for fiscal 2022 (FY22), up by 16.2% from fiscal 2021 (FY21).

The company attributed its growth to the ‘consistent execution of its strategy’ and a ‘strong’ fourth-quarter performance.

Revenues for Gerresheimer’s Plastics & Devices division grew organically by 12.3% in FY22, driven by demand for plastic packaging solutions, inhalers and pens.

The company’s Primary Packaging Glass division recorded an organic revenue growth of 20.8% in the year.

Gerresheimer’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for FY22 was €338.4 million (US$357.69m), up by 10.2% organically from €307.1 million (US$324.60m) in FY21.

During the year, the company delivered an adjusted net income of €151 million (US$159.61m), which resulted in adjusted earnings per share (EPS) of €4.61 (US$4.87).

Its revenue for the fourth quarter was €529 million (US$559.15m), an organic increase of 15.9% from the same period of the prior year.

Revenues for Gerresheimer’s Plastics & Devices and Primary Packaging Glass divisions grew by 13.8% and 18.1% respectively in Q4 2022.

The company’s adjusted EBITDA increased to €112 million (US$118.38m) in the quarter from €95 million (US$100.41m) in Q4 2021, while its adjusted EBITDA margin for the quarter was 21.2%.

Gerresheimer CEO Dietmar Siemssen said: “In 2022, Gerresheimer has proven that it is a profitable growth company, accelerating growth across all businesses.

“We have exceeded our targets while steering Gerresheimer successfully through a dynamic environment. We will continue to leverage business opportunities and accelerate our profitable growth path.”

Gerresheimer said it had started fiscal 2023 (FY23) strongly and is expecting double-digit organic growth in both revenue and adjusted EBITDA for the year.

Macfarlane Group posts improved sales

UK-based packaging and labeling company Macfarlane Group has recorded 10% increase in revenue to £290 million (US$347.29m) with profit before tax up 7% to £19.9 million (US$23.83m).

The interim and proposed final dividend rose 7% to 4.42p while operating profit was up 7% to £21.4 million (US$25.63m).

Macfarlane’s Packaging Distribution achieved revenue growth of 8% to £259.7 million (US$311.00m), up from £239.5 million (US$286.81m) in 2021 through the recovery of input prices and the benefits from the acquisitions of Carters Packaging in March 2021 and PackMann in May 2022 which offset reduced demand from e-commerce customers.

Manufacturing Operations delivered an excellent performance in 2022 with revenues growing by 23% to £30.8 million (US$36.88m) up from £25.0 million (US$29.94m) in 2021 and operating profit before amortization increased by 42% to £5.2 million (US$6.23m).

The company said that its plans for 2023 included a second major site consolidation in the East Midlands, prioritizing engagement with potential new customers and effectively managing input price changes and supply chain challenges as they arise.

Macfarlane chief executive Peter Atkinson said: “I am pleased to report that the Group results for the year ended 31 December 2022 were ahead of both the previous year and market expectations.

“Our performance in 2022 was achieved against a background of a marked slowdown in spend from the e-commerce sector, following strong growth during the 2021 Covid-19 lockdown periods, and inflationary pressures on operating costs.”

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