Schott increases sales and plans record investments

Schott increases sales and plans record investments

In fiscal year 2018/19, Schott AG increased sales by 5.1% to approximately EUR 2.2 billion. The operating result (EBIT), which now stands at EUR 275 million, also improved slightly. Consolidated net profit for the year amounted to EUR 206 million. The group’s precision materials, optical industries and home appliances businesses all contributed positively. Business with special glass tubing for pharmaceutical packaging produced particularly dynamic results. Elsewhere, a difficult situation in the automotive industry impacted the electronic packaging division’s performance.

Investments in property, plant and equipment amounted to EUR 257 million, an increase of 38% over the previous 12 months. More than half of this amount went to sites in German-speaking countries. Among other projects, the expansion of the Glass-Ceramic Competence Centre in Mainz was completed to meet strong demand for ZERODUR glass-ceramic. The expansion of production capacity of an existing plant in India and the construction of a new plant in China accounted for the largest foreign investments.

This year, Schott plans to invest EUR 320 million, the highest amount in the company’s history. An important focus will be on capacity expansions in the pharmaceutical packaging business in China and India. In Germany, the group plans to invest in its pharmaceutical packaging business in Müllheim, among other sites, as well as in its manufacturing capacities for specialty glass in Mainz and Jena.

www.schott.com

Published: 
23/01/2020

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