April 12, 2018 / 6:07 AM / a year ago

Gerresheimer Q1 earning per share up due to U.S. tax reform

FRANKFURT, April 12 (Reuters) - German drugs-packaging maker Gerresheimer said earnings per share in first quarter rose due to the U.S. tax reform and said the development of the Dollar against the Euro led to a 4.1 percent decrease in revenues.

Sales in the fist quarter fell to 290 million euros ($358.44 million), in line with the average estimate of 291 million euros in a Reuters poll, but revenues grew 0.4 percent when adjusted for changes in foreign exchange rates.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 7 percent to 54.9 million euros, also broadly in line with the analyst estimates.

Gerresheimer confirmed its forecast that full-year revenues would at least match last year’s figure of 1.35 billion euros or rise to as much as 1.4 billion euros at constant exchange rates. ($1 = 0.8091 euros) (Reporting by Riham Alkousaa Editing by Ludwig Burger)

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