Feb 10 (Reuters) - Gerresheimer rescheduled its 2025 results publication due to a probe into its revenue recognition and accounting practices and also initiated the sale of its U.S.-based packaging systems business, Centor, the medical equipment maker said on Tuesday.
Germany's financial regulator BaFin said in September it would review Gerresheimer's financial statements as of November 30, 2024, due to concerns that the company may have prematurely recognised revenue for some customer contracts.
Gerresheimer also said on Tuesday it has engaged a second auditing firm to examine revenue recognition and accounting practices for 2024 and 2025, noting that the findings would impact its 2025 outlook.
"According to the findings to date, the new investigations initiated by the company indicate that individual employees have violated internal guidelines and IFRS (International Financial Reporting Standards) requirements," Gerresheimer said.
The company expects the decrease in 2025 revenues to be at the higher end of its earlier forecast range of minus 4% to minus 2%, or slightly better.
It also cut its forecast for earnings before interest, taxes, depreciation and amortisation margin to between 16.5% and 17.5%, from the earlier range of 18.5% to 19.0%. Adjusted earnings per share is now expected to decrease in the high-double-digit percentage range and may turn negative.
(Reporting by Chandni Shah in Bengaluru; Editing by Vijay Kishore)
