Quarterly figures - Schott Pharma increases sales despite low capacity utilization
Despite a recent low capacity utilization in the important business with glass vials for medicines or vaccines, Schott Pharma has increased its turnover. The Mainz-based company reported sales of around 899 million euros in the twelve months to the end of September, as the company announced on Tuesday. This was around nine percent more than in the previous year. The company, which manufactures syringes and ampoules for the pharmaceutical and biotech industries, among other things, will present its full financial results on January 26.
The low capacity utilization in the second half of the financial year was due to customers reducing their inventories. Nevertheless, the company sees growth potential in areas such as packaging for mRNA-based drugs. Schott's pharmaceutical division, which was spun off in 2022, recently expanded its production capacities in Müllheim in Baden-Württemberg - including new production lines for prefillable polymer syringes. These syringes are intended for medicines that need to be stored and transported at low temperatures.
Schott Pharma went public on the Frankfurt Stock Exchange in the fall. Since Monday, the shares have been part of the SDax, the index of smaller stocks.
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- Despite low capacity utilization in Rhineland-Palatinate's Mainz, where Schott Pharma's crucial glass vial production for medications and vaccines is based, the company managed to boost its turnover by nearly 9% in the recent quarterly figure.
- Schott Pharma, a key player in the industry, reported sales of approximately 899 million euros during the past twelve months, as they announced on Tuesday.
- Despite reduced inventories by customers leading to lower capacity utilization in the latter half of their financial year, Schott Pharma continues to identify growth opportunities, such as packaging for mRNA-based drugs.
- Schott's pharmaceutical division, which underwent a spin-off in 2022, expanded its production capacities in Müllheim, Baden-Württemberg, including new prefillable polymer syringe lines for low-temperature storage and transportation medicines.
- Schott Pharma's pharmaceutical division expansion aimed at addressing the market need for mRNA-based drugs, tapping into the booming pharma industry trends, and contributing to the global vaccine production effort, potentially benefiting the Rhineland-Palatinate economy.
Source: www.stern.de
