SCHOTT Pharma (1SXP) Q2 2026 earnings summary

Executive summary

• H1 2026 revenues reached €488.1 million, up 2.3% at constant currencies, driven by Drug Containment Solutions (DCS) and high-value solutions (HVS), while Drug Delivery Systems (DDS) faced temporary headwinds.

• EBITDA for H1 was €129.8 million with a margin of 26.6%, stable year-over-year, as DCS growth offset DDS weakness.

• HVS accounted for 56% of revenues, reflecting strategic focus on innovation and capacity expansion.

• Profit for the period declined by 5.4% to €64.4 million, mainly due to one-off inventory impairments and lower capacity utilization in DDS.

• Equity ratio improved to 58.6% from 55.9% at the prior year-end.

Financial highlights

• Q2 2026 revenues were €247.9 million, flat at constant currencies, down 1.5% reported; Q2 2025 was a strong comparator.

• H1 DCS revenues rose 8.3% at constant currencies to €286.4 million; DDS fell 5.4% to €201.8 million.

• Group EBIT was €86.5 million, down 6.9% year-over-year, mainly due to a one-off inventory impairment and higher depreciation.

• Net income was €64.4 million (EPS €0.43), compared to €68.1 million last year.

• Free cash flow more than doubled year-over-year to €45.4 million, driven by working capital improvements.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: revenue growth of 2%-5% at constant currencies, EBITDA margin around 27%.

• Planned CapEx for FY 2026 is €140-160 million; HVS revenue share expected at prior year’s 57%.

• DDS segment expected to be flat for the full year, with growth momentum anticipated in H2 and into 2027.

• Order book visibility extends several months ahead, into 2027, supporting confidence in second-half growth.

• Assumptions include stable geopolitical and economic conditions, no further major disruptions.