SCHOTT Pharma had a good start into the fiscal year 2024. The fiscal year runs from October to September. Q1 2024 therefore relates to the period from October 2023 to December 2023.
In the first quarter, the company achieved revenues of EUR 232 million (Q1 2023: EUR 225 million), corresponding to an increase of 8 percent at constant currencies and a reported growth rate of 3 percent. This performance led to an EBITDA margin of 27.9 percent at constant currencies, and is thus approximately at the previous year’s level.
The reported EBITDA benefited from currency tailwinds and totalled EUR 73 million. This resulted in an EBITDA margin of 31.3 percent, an increase of more than 3 percentage points year-over-year.
“We started the new fiscal year on a high note with both business segments showing positive development,” said Andreas Reisse, CEO of SCHOTT Pharma. “As expected, our Drug Delivery Systems business continued to grow strongly. This proves that our strategy focusing on high-value solutions is the right one. In addition, our Drug Containment Solutions business achieved a good profitability with a margin at the previous year’s level. On this basis, we are embarking on another successful year for SCHOTT Pharma.”
“Building on last year’s growth momentum, we had a successful start to 2024 considering the high comparative basis from the previous year,” said Dr. Almuth Steinkühler, CFO of SCHOTT Pharma. “We were able to achieve a strong margin particularly through economies of scale. While we are very pleased with this development, we expect it to normalize over the course of the year. Overall, we are well on track to achieve our full-year guidance.”
The full report is available here.