Schott Defies Economic Headwinds, Announces Robust Financial Results for 2022/23

by GlassBalkan
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Speciality glass powerhouse, Schott, reports stellar financial performance for the fiscal year 2022/23, navigating and overcoming formidable economic challenges.

In a remarkable display of resilience, Schott, a leading speciality glass manufacturer, has announced robust financial results for the fiscal year 2022/23 despite encountering significant economic challenges. The company faced hurdles such as soaring energy costs, customer hesitancy, and intense global competitive pressures. Despite these obstacles, Schott reported a noteworthy 4% increase in global sales, reaching €2.9 billion, accompanied by an EBIT of €413 million.

Dr Frank Heinricht, Chairman of the Board of Management at Schott, expressed optimism, stating, “We are continuing to focus on innovation and sustainable growth. Our financial strength, coupled with strategic investments, allows us to confront challenges in the international market with confidence.”

Schott’s success was propelled by a net income of €277 million, driven in part by products and solutions tailored for the pharmaceutical industry and high-end optics. Looking forward, the company has plans for sustained investment in sustainability and growth across key regions, including Europe, the US, and China.

During the fiscal year 2022/23, Schott expanded its international production network with approximately €450 million in investments. Notable achievements included the groundbreaking ceremony for a new pharmaceutical production facility in Hungary and the inauguration of an advanced diagnostics facility in the US. This year, the company is set to break its own record, planning investments exceeding €500 million.

Specific projects in the pipeline include expanding the production area of its optics competence centre in Malaysia and the construction of a climate-neutral administration and production building in Landshut, Bavaria. Schott’s subsidiary, Schott Pharma, aims to boost manufacturing capacities, including a new production line for polymer syringes in Müllheim, Germany, a glass syringe plant in Hungary, and a new production site in Serbia. Additionally, the company is gearing up to strengthen its presence in the semiconductor industry.

Schott achieved several sustainability milestones in the past fiscal year, including successful laboratory tests with hydrogen. This technology will undergo further large-scale production testing this year. Furthermore, the company plans to build its first electric melting tank for pharmaceutical tubing in Mitterteich, Bavaria, by 2026.

Source: GlassBalkan

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