SCHOTT Pharma AG & Co. KGaA / DE000A3ENQ51
14.05.2024 - 18:19:53SCHOTT Pharma confirms outlook for FY 24 based on Q2 results; FY 25 impacted by slower growth from syringes
| SCHOTT Pharma AG & Co. KGaA / Key word(s): Forecast/Preliminary Results 14.05.2024 / 18:19 CET/CEST The issuer is solely responsible for the content of this announcement. 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.” 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
14.05.2024 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 |
| 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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