A successful year with many firsts.
“With ongoing revenue growth, a record EBITDA margin, an increased revenue share of high-value solutions and our inclusion in the MDAX, 2024 was a year of ground-breaking innovations and one of steady progress on expansion projects and of ever-stronger partnerships. These achievements provide a solid foundation for continued success in the year ahead.”
Andreas Reisse
SCHOTT Pharma CEO
Thinking ahead.
In 2024, we continued to launch innovative solutions for safe drug containment and delivery. For example, our large-volume prefillable polymer syringes and cartridges for wearable injection devices give patients the freedom to self-administer subcutaneous medications in large doses from the comfort of their own homes – as well as taking the strain off the healthcare system. Another example is our new nest for polymer syringes, which helps us in our ongoing efforts to optimize our customers’ processes and value chains. The nest boosts efficiency in fill-and-finish processes by up to two thirds while significantly lowering manufacturing costs and reducing carbon emissions.
Pushing boundaries.
In view of our market’s very healthy growth, we have continued to invest in expanding our capacities and launching innovative products in 2024. Our focus here is on delivering high-value solutions that align with and drive long-term industry trends. Collaboration is at the heart of the way we work. For example, as a member of the Alliance for RTU – a strategic industry initiative – we aim to increase the market acceptance of ready-to-use (RTU) vials and cartridges. This alliance provides valuable support to pharmaceutical companies and CDMOs by sharing expertise on high-quality sterile product solutions. As well as helping to reduce process complexity, RTU solutions meet the rigorous standards of modern pharmaceutical manufacturing more effectively than traditional packaging.
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2024 was another year of both quantitative and qualitative growth for SCHOTT Pharma. Revenue increased by 12% on a constant-currency basis compared with the previous financial year – a new record that falls within the upper half of our guidance. We are especially proud that this growth was fuelled by high-value solutions, which saw an impressive 22% increase and now account for as much as 55% of our total revenue.
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Our profitability improved once again despite the significant ramp-up costs that were incurred by our substantial investments in capacity expansion. On a constant-currency basis, we achieved a record margin of 27.8%. At the same time, our EBITDA grew by 17% year-on-year, also at constant currencies.
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Our high-margin, high-value solutions (HVS) now account for 55% of our revenue. HVS are tailored to meet even the most specific customer requirements for drug contain-ment and delivery, adding exceptional value for our customers. By capitalizing on market drivers, we aim to further increase the revenue share of HVS and have made further major investments throughout the year 2024.
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Our business has a strong cash generation: free cash flow rose significantly to EUR 79m – a testament to our operational strength. While the strong operating cash flow more than covered the considerable growth investments we made to expand our capacities, the strong free cash flow enabled us to reduce net debt by around 20%.
2024 was another year of both quantitative and qualitative growth for SCHOTT Pharma. Revenue increased by 12% on a constant-currency basis compared with the previous financial year – a new record that falls within the upper half of our guidance. We are especially proud that this growth was fuelled by high-value solutions, which saw an impressive 22% increase and now account for as much as 55% of our total revenue.
Focus on the future.
We are well aware that achieving our growth targets depends on providing our customers with benefits that extend beyond mere product functionality. In 2024, we made significant strides in our sustainability journey by substantially reducing our carbon footprint and launching initiatives to promote a circular economy. These initiatives aim to enhance resource efficiency and reduce waste more than before. As global challenges like the climate crisis call for collaborative solutions between different companies, we joined forces with partners in the Alliance to Zero. This partnership focuses on developing solutions that pave the way for a climate-neutral circular economy.