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SCHOTT on a successful course
Mainz, January 22, 2015. SCHOTT AG continued on its growth course in fiscal year 2013/2014 (October 1, 2013, to September 30, 2014) by improving on all of its earnings indicators. EBIT amounted to EUR 135 million and was thus significantly higher than the EUR 74 million the company reported in fiscal year 2012/2013. Net profit for the year of EUR 66 million (EUR 25 million) and operating cash flow of EUR 182 million (EUR 151 million) also improved considerably. “In general, we are quite satisfied with the fiscal year that just ended. We managed to achieve the goals that we had set despite the negative influences of currency effects,” Dr. Frank Heinricht, Chairman of the Board of Management, emphasized at the annual results press conference.
- Fiscal year 2013/2014: Sales rose by 4% adjusted for currency effects
- Significant improvement in profitability, EBIT of EUR 135 million and EUR 66 million in consolidated net profit
- Comprehensive change process within the group aimed at achieving profitable growth
Adjusted for significant exchange rate effects, the company increased its sales by 4%. Group sales amounted to EUR 1.87 billion, slightly lower than last year’s level, mainly due to how the Japanese yen, US dollar, Brazilian real and Turkish lira performed against the euro. Foreign sales continue to account for 86% of total sales. SCHOTT generates nearly half of its sales in Europe and one quarter each in North and South America and Asia. The number of employees remained steady at 15,445.
Fiscal year 2013/2014 characterized by a strategic realignment
The realignment measures included the creation of Strategic Business Fields as well as the respective individual strategies and the development of clear portfolio management. “SCHOTT serves a broad range of industries and markets with its comprehensive product line and services. The company is managed as a portfolio company in order to leverage these most effectively,” Dr. Heinricht explained. In accordance with the new strategic focus, SCHOTT consolidated several sites and sold its machine vision business in Japan.
Earnings quality of the group portfolio has increased
Chief Financial Officer Klaus Rübenthaler reported that cash flow had risen to EUR 182 million. This, in turn, enabled the company to reduce its financial liabilities from EUR 297 million to EUR 182 million. The low interest rates in the past fiscal year resulted in a further increase in pension provisions that had a negative impact on equity. Rübenthaler then noted that, “SCHOTT is a financially sound company that has all of the financial resources it needs to be able to achieve its future strategic goals.”
Fiscal year 2014/2015: Further growth planned
SCHOTT intends to continue on its course to sustainable and profitable growth in fiscal year 2014/2015 by increasing its sales by 2 to 3%, increasing its EBIT and by achieving another increase in its consolidated earnings. Investments in fixed assets are also projected to rise to EUR 150 million.
The growth planned is to be achieved with both proven and new products such as ultra-thin glasses, components for aircraft cabin lighting, innovative pharmaceutical packaging and glass-ceramics for use in storing energy, but also through acquisitions. "SCHOTT is participating in many global megatrends such as healthcare, mobility and energy with many of its products. Our broad portfolio opens up good prospects for sustained growth for the current fiscal year and beyond,” the Chairman of the Board Dr. Heinricht noted.
Key figures for fiscal year 2013/2014
Key figures in million EUR
Change in %
|Earnings before interest and taxes (EBIT)||135||74||83|
|Annual group profit||66||25||> 100|
|Cash flow from operating activities||182||151||21|
|Investments in fixed assets||135||122||11|
|Employees as of the balance sheet date (headcount)||15,445||15,444||0|
1) The figures from previous years were calculated on a comparable basis.
SCHOTT is a leading international technology group in the areas of specialty glass and glass-ceramics. The company has more than 130 years of outstanding development, materials and technology expertise and offers a broad portfolio of high-quality products and intelligent solutions. SCHOTT is an innovative enabler for many industries, including the home appliance, pharmaceutical, electronics, optics, automotive and aviation industries. SCHOTT strives to play an important part of everyone’s life and is committed to innovation and sustainable success. The group maintains a global presence with production sites and sales offices in 35 countries. With its workforce of approximately 15,400 employees, sales of 1.87 billion euros were generated in fiscal year 2013/2014. The parent company, SCHOTT AG, has its headquarters in Mainz (Germany) and is solely owned by the Carl Zeiss Foundation. As a foundation company, SCHOTT assumes special responsibility for its employees, society and the environment.
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Vice President Marketing and Communication
Vice President Marketing and Communication
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