Gerresheimer AG reschedules publication of annual and consolidated financial statements for 2025 and initiates sale of Centor Inc.

Gerresheimer AG reschedules publication of annual and consolidated financial statements for 2025 and initiates sale of Centor Inc.

• Ongoing investigations initiated by the company require more time for the preparation and audit of the annual accounts
• Sale of US subsidiary Centor to optimize capital and financing structure this year
• Transformation program successfully launched
• Outlook for 2026: Revenues of EUR 2.3 to 2.4 billion and moderately positive free cash flow expected

Duesseldorf, February 10, 2026. Gerresheimer AG, an innovative system and solution provider and global partner for the pharma, biotech, and cosmetics industries, is deferring the publication of its 2025 annual and consolidated financial statements. A new publication date will be determined in consultation with the auditor. Based on internal indications and in consultation with the auditor, Gerresheimer has commissioned further investigations by a second auditing firm into the revenue recognition and accounting practices in the 2024 and 2025 financial years. In doing so, the company aims to ensure that the previous year’s figures are comprehensively corrected, taking into account the findings of the investigation by an independent external law firm in connection with the ongoing BaFin proceedings, and that the annual and consolidated financial statements for the financial year 2025 fully meet the qualitative requirements. As the investigations are still ongoing, more time is needed to prepare and audit the 2025 annual and consolidated financial statements, including the correction of the previous year's figures. In order to optimize its capital and financing structure, Gerresheimer has initiated the sale of its US subsidiary Centor Inc.
Centor specializes in packaging systems for dispensing prescription drugs in the USA. The investment bank Morgan Stanley & Co. International plc has been mandated to handle the transaction. At the same time, Gerresheimer is further pursuing the implementation of its comprehensive transformation program gto in order to lead the company back onto a profitable growth path. For the 2026 financial year, Gerresheimer expects revenues of around EUR 2.3 to 2.4 billion, an adjusted EBITDA margin of around 18 to 19%, and a moderately positive free cash flow. 

“As the newly formed management team, we want to ensure that the 2025 annual and consolidated financial statements fully meet our standards of quality, compliance, and transparency,” said Wolf Lehmann, CFO of Gerresheimer AG. “Due to the ongoing investigations, the process is taking longer than expected. We are working through the issues identified so far in the investigations in a structured manner and in close consultation with the auditor.”

“The focus on partnership-based cooperation with our customers and the consistent implementation of our transformation program will put Gerresheimer back on the road to success,” said Uwe Röhrhoff, CEO of Gerresheimer AG. “The optimization of our capital and financing structure through the planned sale of Centor will enable us to implement the necessary measures and thus leverage the existing potential of our company.”

Investigations are ongoing

Based on internal indications and in consultation with its auditor, Gerresheimer has commissioned further investigations by a second auditing firm to examine revenue recognition and accounting practices in the 2024 and 2025 financial years.

According to the findings to date, the new investigations initiated by the company indicate that individual employees have violated internal guidelines and IFRS requirements. The resulting corrections in the consolidated financial statements mainly relate to the recognition of revenues and the accounting and valuation of inventories Gerresheimer is continuing to investigate the causes and responsibilities and has already taken initial personnel and organizational measures.

Based on the current findings of the ongoing investigations and the current preparation status of the annual statements, including the previously announced corrections to revenues from bill-and-hold agreements, this results in a total expected correction requirement of approximately EUR -35 million for revenue recognition and approximately EUR -24 million for adjusted EBITDA for the 2024 financial year. Incorrect entries from financial year 2025 identified in the ongoing investigations will be corrected.

Impact on the 2025 forecast and expected impairments

Based on the current preparation status of the annual statements and considering the findings of the ongoing investigations, the decrease in revenue in 2025 is expected to be at the upper end of the forecast range of -4% to -2% or slightly better. The adjusted EBITDA margin is expected to be between 16.5 and 17.5% in financial year 2025 (previously 18.5 to 19.0%). Adjusted EPS is expected to decrease in the high double-digit percentage range and may even turn negative (previously: decrease in the mid-double-digit percentage range).

Based on the results of the impairment tests available to date, Gerresheimer expects non-cash impairments of around EUR 220 to 240 million in the consolidated financial statements for the 2025 financial year. These mainly relate to impairments of technology and development projects of Sensile Medical AG and, among others, impairment losses to the assets of Gerresheimer Moulded Glass Chicago Inc., Chicago, USA. The Moulded Glass plant in Chicago Heights will be closed at the end of financial year 2026 as one of the measures of the transformation program.

Sale of Centor to optimize capital and financing structure

Due to strong interest from potential buyers, Gerresheimer has initiated the sale of its wholly owned subsidiary Centor Inc., USA, and plans to complete the transaction before the end of this year. Centor specializes in packaging systems for dispensing prescription drugs in the USA. With the sale, for which the investment bank Morgan Stanley & Co. International plc has already been mandated, the company aims to optimize its capital and financing structure. The separation of the Moulded Glass business is also being further pursued, but the intended subsequent sale process will not be initiated in financial year 2026, but at a later date.

Transformation program gto successfully launched

To put the company on a path to profitable growth, Gerresheimer is currently implementing a comprehensive transformation program aimed at reducing costs, enhancing performance, and improving free cash flow. Among other things, the program includes more selective investment planning, improved working capital management, measures to increase operational and sales performance, the optimization of procurement and the global production network. For example, Gerresheimer will close its Type 1 Moulded Glass plant in Chicago Heights, USA, by the end of the 2026 financial year and transfer the business to its three other Type 1 Moulded Glass plants in Italy and India.

Outlook for 2026: Positive free cash flow

Gerresheimer anticipates a stable to slightly growing market environment for the pharma and cosmetics market in financial year 2026. The company expects, before M&A activities, revenues of around EUR 2.3 to 2.4 billion, an adjusted EBITDA margin of around 18 to 19%, and a moderately positive free cash flow, despite an expected weaker first half-year.

About Gerresheimer
Gerresheimer is an innovative system and solution provider and global partner to the pharmaceutical, biotech, and cosmetics industries. The Group offers a comprehensive portfolio of drug containment solutions, including closures and accessories, as well as drug delivery systems, medical devices, and solutions for the healthcare industry. The range of services includes digital solutions for therapy support, on-body devices, syringes, pens, autoinjectors, and inhalers, as well as vials, cartridges, ampoules, tablet containers, infusion bottles, drip bottles, and syrup bottles. Gerresheimer ensures that drugs reach patients safely and can be administered reliably. Gerresheimer supports its customers with comprehensive services along the value chain and by addressing the growing demand for greater sustainability. With over 40 production sites in 16 countries in Europe, America, and Asia, Gerresheimer has a global presence and produces locally for regional markets. Together with Bormioli Pharma 2024, the Group generated sales of around EUR 2.4 billion and currently employs around 13,600 people. Gerresheimer AG is listed on the SDAX index of the Frankfurt Stock Exchange (ISIN: DE000A0LD6E6).
www.gerresheimer.com

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