(Reuters) -Shares in Gerresheimer fell 12% on Thursday after the German packaging and medical equipment maker cut its 2025 guidance for the third time this year.
Its shares were trading at 33 euros ($38.32) at 0746 GMT and at the bottom of the German midcap index.
Gerresheimer’s profit warning, issued late on Wednesday, comes amid slowing demand for personal care and beauty products that has weighed on consumer goods companies.
Gerresheimer, which makes rounded jars for creams and roll-on bottles for deodorants, said it expects its organic revenue to decline between 2-4% this year, after previously expecting between 0-2% growth.
Its shares have lost almost half of their value since January, also taking a knock from an investigation started by Germany’s financial regulator which alleged accounting rule violations. Gerresheimer said at the time that it would cooperate fully with the regulator.
The stock is amongst the most shorted in Europe, with a 8.4% short interest, according to data by Mediobanca as of October 3.
A short seller borrows stock at a higher price betting its value will decline.
($1 = 0.8613 euros)
(Reporting by Paolo Laudani in Gdansk; additional reporting by Danilo Masoni; Editing by Matthias Williams and Susan Fenton)
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