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SCHOTT Pharma confirms outlook for FY 24 based on Q2 results

SCHOTT Pharma continued its profitable growth trajectory in the first half of the fiscal year 2024.

From October to March, the company achieved revenues of EUR 489 million (H1 23: EUR 449 million), corresponding to an increase of 9 percent at constant currencies and a reported growth rate of 4 percent. Despite ongoing investments into capacity expansions and a strong comparable base from the previous year, EBITDA slightly increased by 2 percent to EUR 134m at constant currencies. This development resulted in an EBITDA margin of 27.4 percent at constant currencies (H1 23: 29.4 percent). 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 percent 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.

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 will publish its full set of financials for Q2 24 on June 27, 2024.

To read the full report click here.

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