SCHOTT Sales Increase 3% in 2016-2017 Fiscal Year
Sales increased by 3.1% to €2.05 billion (approximately $2.5 billion), with all three segments (Precision Materials, Optical Industries and Home Appliances) contributing.
SCHOTT AG reportedly improved on all of its key earnings figures in the 2016-2017 fiscal year (October 1, 2016-September 30, 2017). EBIT reached €272 million (approximately $334 million), an increase from the €223 million (~ $273.9 million) the company reported in fiscal year 2015-2016. Consolidated earnings reached a record level of €197 million (~ $242 million). Free cash flow of €153 million (~ $189.9 million) was also reportedly an improvement.
“Overall, we are satisfied with the past fiscal year,” said Frank Heinricht, Ph.D., chairman of the board of management at the annual results press conference. “We achieved all the goals we set.”
Sales increased by 3.1% to €2.05 billion (~ $2.5 billion), with all three segments (Precision Materials, Optical Industries and Home Appliances) contributing. Demand for ZERODUR® glass-ceramic as a key component in microlithography and astronomy, high-quality pharmaceutical packaging, and special glass for kitchen appliances was particularly dynamic.
Foreign sales accounted for 86% of total sales. Nearly half of sales were generated in Europe, around a quarter in North and South America, and around a quarter in Asia. The number of employees worldwide remained unchanged at 15,100, with 5,200 of those based in Germany. Investments in property, plant and equipment amounted to €154 million (~ $189 million). More than half went to German sites. The largest foreign investment was the establishment of a pharmaceutical packaging plant in China, which went into operation last September.
According to SCHOTT, it intends to continue on its path of sustainable and profitable growth in the current fiscal year. The group expects a boost from demand for ZERODUR glass-ceramic, pharmaceutical systems and the expansion of production capacities for specialty glass products. SCHOTT plans to invest a total of €180 million (~ $221 million); a quarter of this amount will go to the main plant in Mainz, creating more than 100 new jobs. On the basis of innovations, investments and the strong global economy, SCHOTT expects group sales to increase by between 3-6% and earnings to remain stable.
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