EQS-News

SCHOTT Pharma confirms outlook for FY 24 based on Q2 results; FY 25 impacted by slower growth from syringes

EQS-News: SCHOTT Pharma AG & Co. KGaA / Key word(s): Forecast/Preliminary Results SCHOTT Pharma confirms outlook for FY 24 based on Q2 results; FY 25 impacted by slower growth from syringes 14.05.2024 / 18:19 CET/CEST The issuer is solely responsible for the content of this announcement. SCHOTT Pharma confirms outlook for FY 24 based on Q2 results; FY 25 impacted by slower growth from syringes

• H1 24 revenues up 9% yoy at constant currencies to EUR 489m; EBITDA margin of 27.4% at constant currencies
• FY 25 revenue growth projections impacted by lower demand for syringes from one customer
• Mid-term outlook confirmed
• Full set of Q2/H1 24 financial results to be published on June 27, 2024

SCHOTT Pharma, a pioneer in pharma drug containment solutions and delivery systems, continued its profitable growth trajectory in the first half of the fiscal year 2024¹. From October to March, the company achieved revenues of EUR 489m (H1 23: EUR 449m), corresponding to an increase of 9% at constant currencies and a reported growth rate of 4%. Despite ongoing investments into capacity expansions and a strong comparable base from the previous year, EBITDA slightly increased by 2% to EUR 134m at constant currencies. This development resulted in an EBITDA margin of 27.4% at constant currencies (H1 23: 29.4%). Based on these figures, SCHOTT Pharma confirms its guidance for the fiscal year 2024.

For the current fiscal year, the company forecasts organic revenue growth of 9% to 11% at constant currencies and an EBITDA margin at approximately prior year’s level. The forecasted growth is driven by the Drug Delivery Systems (DDS) segment. The Drug Containment Solutions (DCS) segment is experiencing industry-wide lower safety stock levels following the temporary destocking effect for vials on the customer side.

In the first half of the year, SCHOTT Pharma consequently executed on its strategy focusing on innovation and expansion. The company will continue to pursue this strategic focus, which taps into some of the most important pharma megatrends to further underline its dedication to growth.

“We are convinced that the long-term market dynamics are intact and that we are well positioned with our strategy to continue benefitting from them. This is evidenced by our good quarterly results. We are therefore reiterating our guidance for the fiscal year 2024 as well as our mid-term goals,” said Dr. Almuth Steinkühler, CFO of SCHOTT Pharma. “For the fiscal year 2025, however, we expect slower growth than originally anticipated in our syringe business, caused by lower demand from one customer. This will have an impact on our overall revenue growth in FY 25.”