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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
2024-05-14 / 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 2024^1. 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."
SCHOTT Pharma learned that a large customer will reduce the needed quantities of syringes from 2025 onwards. At the
same time, the ongoing stock optimization at customers in the DCS segment limits the potential for immediate
compensation. The company therefore expects a temporary impact on revenue growth for the fiscal year 2025, also slowing
the expansion of the EBITDA margin. Due to these effects and a more conservative forecast planning, SCHOTT Pharma
assumes a revenue growth for the fiscal year 2025 within a high single to low double-digit percent range. This means
that the company's current expectations for that year are below the current market consensus of high teens revenue
growth.

SCHOTT Pharma expects the lower syringe demand to be only a temporary effect. Given the intact long-term market
dynamics, the company experiences further interest from other customers in its drug delivery systems and containment
solutions. Therefore, the company foresees to compensate this effect in the medium term. SCHOTT Pharma confirms its
mid-term guidance of organic revenue growth above 10% CAGR and an EBITDA margin in the low 30% range, at constant
currencies.

SCHOTT Pharma will publish its full set of financials for Q2 24 on June 27, 2024.
For additional news about SCHOTT Pharma please visit our media center.

Key figures Q2 24

(in EUR m)            Q2 23 Q2 24  ? yoy  Q2 24 (cc^2) ? yoy (cc^2) 
Revenues               224   234    +5%       247          +11% 
EBITDA                 69    44    -35%        67          -3% 
EBITDA margin (in %)  30.7% 18.9% -11.8pp    26.9%        -3.8pp 

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Key figures H1 24

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(in EUR m)            H1 23 H1 24 ? yoy  H1 24 (cc^2) ? yoy (cc^2) 
Revenues               449   466   +4%       489          +9% 
EBITDA                 132   117   -11%      134          +2% 
EBITDA margin (in %)  29.4% 25.1% -4.3pp    27.4%        -2.0pp 

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^1The fiscal year runs from October to September. H1 2024 therefore relates to the period from October 2023 to March 2024.

^2cc = at constant currencies

All stated 2024 figures are unaudited.

About SCHOTT Pharma

Human health matters. That is why SCHOTT Pharma designs solutions grounded in science to ensure that medications are safe and easy to use for people around the world. The portfolio comprises drug containment solutions and delivery systems for injectable drugs ranging from prefillable glass and polymer syringes to cartridges, vials, and ampoules. Every day, a team of over 4,600 people from over 60 nations works at SCHOTT Pharma to contribute to global healthcare. The company is represented in all main pharmaceutical hubs with 16 manufacturing sites in Europe, North and South America, and Asia. With over 1,000 patents and technologies developed in-house and a state-of-the-art R&D center in Switzerland, the company is focused on developing innovations for the future. SCHOTT Pharma AG & Co. KGaA is headquartered in Mainz, Germany and listed on the Frankfurt Stock Exchange as part of the SDAX. It is part of SCHOTT AG, which is owned by the Carl Zeiss Foundation. In light of this spirit, SCHOTT Pharma is committed to sustainable development for society and the environment and has the strategic goal of becoming climate-neutral by 2030. Currently, SCHOTT Pharma has over 1,800 customers including the top 30 leading pharma manufacturers for injectable drugs and generated revenue of EUR 899 million in the fiscal year 2023.

Press contact

Joana Kornblum

Media Relations

Tel.: +49 151/29223552

E-Mail: joana.kornblum@schott.com

Jasko Terzic, CFA

Investor Relations

E-Mail: ir.pharma@schott.com

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2024-05-14 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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Language:     English 
Company:      SCHOTT Pharma AG & Co. KGaA 

Hattenbergstraße 10
55122 Mainz
Germany

ISIN:         DE000A3ENQ51 
WKN:          A3ENQ5 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
EQS News ID: 1903113

End of News EQS News Service
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1903113 2024-05-14 CET/CEST

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May 14, 2024 12:20 ET (16:20 GMT)