Feb 18, 2021   SOURCE: BusinessWire

SCHOTT Eyes U.S. Growth Strategy as Sales and Earnings Increase In 2020

The international specialty glass group SCHOTT increased its global sales by 2.2% in 2020 to reach $2.5 billion, and the company delivered positive performance for other key financial benchmarks despite the COVID-19 pandemic. The company also improved operating profit (EBIT), recording $320 million. The number of employees rose to around 16,500, of which about 1,200 are in the United States.

About 20% of global sales were attributable to the U.S. region, making the U.S. the top selling country for SCHOTT.

Pharma & Home Appliance Lead U.S. Growth

U.S. sales increased despite the challenges of 2020, led by the company’s pharmaceutical packaging unit and its home appliance unit. The home appliance market dipped at the beginning of the pandemic, but rebounded as Americans spending more time at home invested in their living environments.

SCHOTT’s Lebanon, Pennsylvania facility produced record-breaking numbers of pharmaceutical containers, operating 24 hours per day, seven days a week, in response to heightened demand from the global coronavirus pandemic. Globally, three out of four COVID-19 vaccine manufacturers rely on vials from SCHOTT’s Pharma business line.

“The COVID-19 pandemic brought into focus the essential role SCHOTT plays in the world. Our products and technologies are vital for the supply chains for pharmaceuticals, MedTech, and other critical industries,” said Jim Gareau, President of SCHOTT North America. “As the seriousness of COVID-19 became apparent in early 2020, all of SCHOTT’s U.S. facilities quickly instituted safety and hygiene plans to keep production running. I want to thank each and every SCHOTT employee for their hard work in the face of an unquestionably difficult environment.”

100% green electricity through Energy Attribute Certificates at U.S. facilities

SCHOTT also intensified its efforts in the area of climate protection. All U.S. locations’ electricity needs are now covered by 100% renewable energies via high-quality certificates of origin. In its new Group strategy, the company has set itself the ambitious goal of becoming climate neutral by 2030. The U.S. locations were one of the first countries to achieve this goal.

Outlook: Strong results form basis for organic growth.

Gareau noted that SCHOTT’s equity ratio remains strong at 32%, a solid result in challenging economic times. “Our financial strength positions us well for organic growth,” Gareau said. “Further, the success of several recent additions to our product portfolio, including major expansions of our materials and digitization expertise, has created additional interest for new acquisitions.”

“The U.S. remains the global powerhouse of innovation,” said Dr. Heinz Kaiser, the member of the SCHOTT board of management responsible for the U.S. “We expect this dynamic economy to continue to create demand for new products and new applications that rely on glass and glass ceramics. Due to its versatility, specialty glass is the perfect material to push ground-breaking technologies in fields such as pharmaceutical packaging, diagnostics, household appliances, and consumer electronics.”

About SCHOTT

Pioneering – responsibly – together: these attributes characterize SCHOTT as a manufacturer of high-tech materials for specialty glass. Founder Otto Schott is considered its inventor and became the pioneer of an entire industry. Always opening up new markets and applications with a pioneering spirit and passion – this is what has driven the #glasslovers at SCHOTT for more than 130 years. Represented in 34 countries, the company is a highly skilled partner for high-tech industries: Healthcare, Home Appliances & Living, Consumer Electronics, Semiconductors & Datacom, Optics, Industry & Energy, Automotive, Astronomy, and Aerospace. In the fiscal year 2020, its 16,500 employees generated sales of 2.24 billion euros ($2.5 billion). With the best teams, supported by the best digital tools, the group intends to continue to grow. SCHOTT AG is owned by the Carl Zeiss Foundation, one of the oldest foundations in Germany. It uses the Group's dividends to promote science. As a foundation company, SCHOTT has anchored responsibility for employees, society and the environment deeply in its DNA. The goal is to become a climate-neutral company by 2030.