DÜSSELDORF (dpa-AFX) - The pharma packaging manufacturer Gerresheimer believes it is on course to achieve its targets for the year despite a sluggish first half of the year. The MDax group announced on Thursday that the start-up of new production lines and the phasing out of burdens from customers' inventory reductions should lead to a significant upturn in the second half of the financial year (until the end of November). The competitor of Schott Pharma is therefore still aiming for a 5 to 10 percent increase in sales from its own resources in 2024. The operating result (adjusted EBITDA) is expected to reach 430 to 450 million euros organically.

In the first half of the financial year, organic sales growth - i.e. before acquisitions and exchange rate effects - amounted to 1.7 percent. In the second quarter, this figure was only 0.7 percent. All in all, turnover in the second quarter rose by a good half a percent to 502.4 million euros. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization (EBITDA) remained virtually unchanged at 107.3 million euros. The bottom line for the shareholders was a result of 32.5 million euros after 34.4 million euros in the same period of the previous year./mis/stk