SCHOTT Pharma (1SXP) Q4 2024 earnings summary

Executive summary

• Achieved strong revenue growth and high profitability in fiscal year 2024, surpassing all full-year targets, with high-value solutions (HVS) accounting for 55% of total revenues.

• Celebrated first anniversary as a public company, promoted to MDAX, and expanded global production capacity.

• Innovation pipeline aligned with pharma megatrends, including GLP-1, mRNA, ADCs, and homecare, with several product launches and strengthened sustainability initiatives.

Financial highlights

• FY 2024 revenues reached €957 million, up 12% at constant currencies; Q4 revenues were €237 million, up 9% at constant currencies.

• FY 2024 EBITDA was €258 million, margin at 27.8% at constant currencies; Q4 EBITDA was €66 million, margin 27.9%.

• Earnings per share for FY 2024 was €0.99; proposed dividend of €0.16 per share (16% payout ratio).

• FY 2024 CapEx totaled €145 million, mainly for HVS capacity expansion, €20 million below guidance.

• Free cash flow for FY 2024 was €79 million, supported by strong operational cash flow and improved working capital.

Outlook and guidance

• FY 2025 organic revenue growth expected in the high single digits at constant currency, with growth back-end loaded.

• EBITDA margin targeted at approximately 26.9%, similar to 2024; mid-term margin target in the low 30% range.

• HVS share expected to remain around 55% in FY 2025, with a mid-term target above 60%.

• CapEx planned at €160–190 million for 2025, focused on HVS capacity expansion; dividend payout ratio targeted at 10–20%.

• No growth expected in Q1 2025; growth to accelerate in H2 as new capacities ramp up.