German glass and glass products manufacturer Schott AG booked earnings before interest and tax (EBIT) of EUR 193 million (USD 256.7 million) in fiscal 2005/06, ended 30 September, up 34% year-on-year,…
German glass and glass products manufacturer Schott AG booked earnings before interest and tax (EBIT) of EUR 193 million (USD 256.7 million) in fiscal 2005/06, ended 30 September, up 34% year-on-year, the company said on 7 December 2006. Turnover was EUR 2.23 billion (USD 2.96 billion), up 19% year-on-year. According to Schott CEO Udo Ungeheuer, the positive development was attributed to a recent acquisition and to growth across all segments. The company increased the number of its employees by 200 to 16,850, of whom 7,200 in Germany. According to Ungeheuer, the running fiscal 2006/07 will continue to develop positively, depending on whether oil prices and foreign currency exchange rates remain stable. In addition, Ungeheuer said the company planned to make investments of EUR 290 million (USD 385.7 million) in fiscal 2006/07, compared to EUR 313 million (USD 416.3 million) in the year-earlier period. Around EUR 150 million (USD 199.5 million) of the investments will be focused on the company“s German Jena site, specialising in display glass and solar technology. The company also planned to expand its presence in Asia, from where it expects to generate 30% of its consolidated turnover.