Schott Pharma

Quarterly Report • Aug 12, 2025

Quarterly Statement 9M 2025

for the period from October 1, 2024 to June 30, 2025

Performance Indicators at a Glance

		9M 2025		9M 2024
		Reported	Constant currencies	Reported
Revenue	in EUR m	739	760	720
Revenue growth	in %	2.6	5.5	7.5
High-value solutions (HVS) revenue share	in %	57		53
EBITDA	in EUR m	213	219	191
EBITDA margin	in %	28.8	28.8	26.6
EBIT	in EUR m	156		144
Profit for the period	in EUR m	113		116
Earnings per share	in EUR	0.75		0.77
Free cash flow	in EUR m	39		68

		Jun. 30, 2025	Sept. 30, 2024
Equity ratio	in %	56.6	54.9
Headcount (as of the reporting date)		4,775	4,690

2

Contents

Performance Indicators at a Glance	2
Business Performance and Key Financial Indicators	3
Report on Changed Forecasts	7
Consolidated Statement of Income	8
Consolidated Statement of Financial Position	9
Consolidated Statement of Cash Flows	11
Additional Information	13

Business Performance and Key Financial Indicators

Preliminary remarks

The SCHOTT Pharma Group ("SCHOTT Pharma") financial year covers the period from October 1 through September 30 of the respective calendar year. 9M 2025 (previous year: 9M 2024) therefore relates to the period from October 1, 2024 through June 30, 2025 (previous year: October 1, 2023 to June 30, 2024). Q3 2025 (previous year: Q3 2024) relates to the period from April 1, 2025 through June 30, 2025 (previous year: April 1, 2024 to June 30, 2024).

Results of operations

SCHOTT Pharma generated revenue of EUR 738.6m in the first nine months of the financial year 2025. This is equivalent to year-on-year growth of 2.6% and constant currency revenue growth of 5.5%.

This revenue growth was driven by the continued buoyant demand for HVS products. Revenue distribution by segment was as follows:

			Change in %
(in EUR m)	9M 2025	9M 2024	Reported	Constant currencies
Drug Containment Solutions (DCS)	414.2	400.1	3.5%	9.8%
Drug Delivery Systems (DDS)	324.8	320.3	1.4%	0.1%
Consolidation/Reconciliation	-0.4	-0.3	21.9%	21.9%
Total	738.6	720.0	2.6%	5.5%

Revenue in the DCS segment was up 3.5% year-on-year (at constant currencies: 9.8%). The strong demand for pharmaceutical vials and cartridges, both in ready-to-use configuration, and for special pharmaceutical vials made a significant contribution to our positive performance. Special pharmaceutical vials have special features such as improved inner surfaces (e.g. EVERIC® pure), tighter geometries as well as internal and external coatings (e.g. EVERIC® lyo, EVERIC® plus).

The DDS segment also posted slight revenue growth. Revenue was up 1.4% year-on-year (at constant currencies: 0.1%) driven mainly by the continued strong demand for prefillable glass syringes. However, this was offset by the reduced order volume of polymer syringes in the current financial year.

Revenue distribution by region was as follows:

(in EUR m)	9M 2025	9M 2024	Change in %
EMEA	384.1	401.5	-4.3%
Asia and South Pacific	126.9	129.6	-2.1%
North America	162.6	127.3	27.8%
South America	65.0	61.7	5.4%
Total	738.6	720.0	2.6%

SCHOTT Pharma's EBITDA was EUR 212.9m in the first nine months of the financial year, thus exceeding the previous year's figure of EUR 191.4m. This resulted in an EBITDA margin of 28.8% (9M 2024: 26.6%). At constant currencies, the EBITDA margin was also 28.8%.

The above developments led to the following EBITDA figures by segment:

			Change in %
(in EUR m)	9M 2025	9M 2024	Reported	Constant currencies
Drug Containment Solutions (DCS)	99.7	84.3	18.2%	26.3%
Drug Delivery Systems (DDS)	113.9	121.3	-6.1%	-7.8%
Consolidation/Reconciliation	-0.7	-14.2	-95.3%	-102.9%
Total	212.9	191.4	11.2%	14.3%

EBITDA in the DCS segment increased disproportionately in comparison with revenue growth compared with the same period in the previous year. This resulted in a constant-currency EBITDA margin of 24.2% (9M 2024, reported: 21.1%), driven mainly by the change to the product mix as a result of the increased demand for HVS products and the efficiency measures introduced in the previous year. These positive effects more than offset the ramp-up costs associated with capacity relocations, which continue to impact EBITDA.

As expected, EBITDA declined in the DDS segment. The constant-currency EBITDA margin was 34.9% (9M 2024 reported: 37.9%). The downward trend in revenue growth with polymer syringes and the resulting lower capacity utilization had a particularly adverse impact. In addition, both a changed product mix compared to the previous year and ramp-up costs associated with capacity expansions for glass syringes had a negative impact on EBITDA. The positive performance of glass syringes was only able to partially offset these effects.

In line with revenue growth, the cost of sales for SCHOTT Pharma Group increased by 2.6% in the first nine months of the financial year 2025, resulting in an unchanged gross profit margin compared to the previous year of 34.7%.

The balance of other operating income and expenses was up EUR 9.6m from EUR -1.1m to EUR 8.5m, driven mainly by lower exchange rate losses of EUR 9.8m compared to the previous year.

The financial result was down EUR 3.1m year-on-year. This was due to higher interest expenses as part of cash pool financing and from leases. The higher interest expenses from cash pool financing were due to the increased financing needs for ongoing capacity expansion projects of individual SCHOTT Pharma companies.

Income tax expenses amounted to EUR 32.7m, a year-on-year increase of EUR 10.9m. As profit before income taxes rose by EUR 8.0m, the tax rate increased from 15.8% to 22.4%. The previous year's tax rate was affected by non-recurring tax income in the low single-digit million range, resulting from a change in accounting estimates in the measurement of deferred taxes, and was therefore exceptionally low. The initial application of the rules on global minimum taxation (Pillar Two) had an upward effect of around one percentage point on the tax rate in the first nine months of the financial year 2025.

Overall, the aforementioned development resulted in profit for the period decreasing to EUR 113.3m with earnings per share of EUR 0.75 (9M 2024: EUR 0.77).

Financial position

(in EUR m)	9M 2025	9M 2024	Change
Cash flows from operating activities	127.6	149.4	-21.8
Cash flows from investing activities	-88.2	-81.4	-6.8
Cash flows from financing activities	-33.7	-68.8	+35.1

SCHOTT Pharma posted a positive cash flow from operating activities of EUR 127.6m in the first nine months of the financial year 2025. This was below the previous year's level (9M 2024: EUR 149.4m). Operating income (EBIT) of EUR 155.6m (9M 2024: EUR 144.5m) made a positive contribution, as did non-cash effective depreciation, amortization and impairment of non-current assets of EUR 57.3m (9M 2024: EUR 47.0m) included in operating income. Please refer to the Results of operations section for more details on the increase in EBIT. The increase in depreciation and amortization was due to the extensive capital expenditure on capacity expansion projects in recent financial years. This was offset by the change in working capital of EUR -39.3m (9M 2024: EUR -22.8m). The main drivers for this were higher inventories and contract assets compared with the previous year due to the increased volume of business. In addition, tax payments reduced cash flow from operating activities by EUR -43.5m (9M 2024: EUR -23.4m). The balance of interest received and paid led to a cash outflow of EUR -6.1m in the first nine months of the financial year 2025 (9M 2024: EUR -2.6m).

Cash flows from investing activities amounted to EUR -88.2m, a year-on-year increase of EUR -6.8m. The main driver for this was the EUR 8.7m increase in capital expenditure on property, plant and equipment and intangible assets compared to the previous year. Capital expenditure in the first nine months of the financial year 2025 was evenly distributed across both segments. As in the financial year 2024, investments focused on capacity expansion projects.

Financing activities resulted in a cash outflow of EUR -33.7m in the first nine months of the financial year 2025 (9M 2024: EUR -68.8m). Significant cash outflows resulted from dividend payments to our limited liability shareholders of EUR -24.1m (9M 2024: EUR -22.6m). In addition, further cash outflows were attributable to the allocation of plan assets of EUR -7.1m (9M 2024: EUR -4.4m) and the repayment of lease liabilities of EUR -3.9m (9M 2024: EUR -2.0m). These outflows were offset by cash inflows of EUR 1.7m (9M 2024: cash outflows of EUR -38.8m) due to changes in the items "Financial receivables – SCHOTT Group" and "Financial liabilities – SCHOTT Group". These items comprise the cash pool liabilities and receivables vis-à-vis SCHOTT Group. Since SCHOTT Pharma companies are permitted to draw down liquidity to finance their operating business as per the existing cash pool agreements, the corresponding transactions are characterized as financing transactions and are therefore generally classified as financing activities.

All in all, the increase in cash and cash equivalents was EUR 5.8m – based on the position as of the reporting date of September 30, 2024. Taking into consideration changes resulting from exchange rate fluctuations, which reduced cash and cash equivalents by a total of EUR -0.6m, cash and cash equivalents increased to EUR 28.3m as of June 30, 2025.

Net assets

Non-current assets were up EUR 26.0m to EUR 879.7m as of June 30, 2025. This increase was mainly due to the EUR 23.6m growth in the balance of intangible assets and property, plant and equipment. Capital expenditure of EUR 91.4m was offset by depreciation and amortization of EUR 57.3m and disposals of EUR 0.9m. In addition, exchange rate effects resulted in a decrease of EUR 9.0m and inflationary adjustments at our Argentinian subsidiary led to a decrease of EUR 0.6m. Capital expenditure included non-cash additions of EUR 2.2m for right-of-use assets related to leases. Investments focused on the expansion of manufacturing capacities in both segments. In addition, the positive performance of our joint ventures led to a EUR 2.3m increase in the valuation of investments accounted for using the equity method.

Current assets were up EUR 59.9m compared with September 30, 2024. Inventories were up EUR 26.6m in the first nine months of the financial year 2025 as a result of the increased volume of business and the ongoing capacity expansions. In addition, as a result of the increased volume of business, contract assets and trade receivables from third parties and SCHOTT Group contributed EUR 31.9m to the increase in current assets.

SCHOTT Pharma's equity amounted to EUR 865.0m as of the reporting date (September 30, 2024: EUR 792.3m) and the equity ratio increased from 54.9% to 56.6% as of the reporting date. This increase is the combined result of an EUR 85.9m increase in total assets and a EUR 72.8m increase in equity. The increase in equity was mainly due to profit for the period in the first nine months of the financial year 2025 of EUR 113.3m and actuarial gains of EUR 3.2m in connection with changes in the interest rate relevant to the measurement of pension provisions. This was offset by dividend payments of EUR -24.6m to our limited liability shareholders and non-controlling interests as well as EUR -19.1m in foreign currency translation effects.

Non-current liabilities were up EUR 35.8m to EUR 250.4m. The main driver for this increase was contract liabilities, which were up EUR 37.4m due to advance payments received from customers. This was offset by a EUR 5.1m decrease in pension provisions. This development is due to the allocation of plan assets and the change in the interest rate relevant in terms of measurement.

Compared with September 30, 2024, current liabilities were down EUR 22.7m to EUR 412.8m. The main driver of this decrease was the reduction in trade liabilities to third parties and SCHOTT Group of EUR 18.7m. As of the previous year's reporting date, liabilities included higher amounts related to capital expenditure in the fourth quarter, which were settled at the beginning of the current financial year. In addition, income tax liabilities fell by EUR 16.7m as a result of tax payments. This was offset by an increase of EUR 7.3m in "Financial liabilities – SCHOTT Group". The key drivers here were the increased financing needs for ongoing capacity expansion projects of individual SCHOTT Pharma companies. Contract liabilities also increased by EUR 5.7m as a result of reclassification from non-current liabilities to current liabilities, since the deliveries for which the advance payments were made are expected to take place in the following financial year.

Report on Changed Forecasts

Based on the business performance in the first nine months of the financial year and the outlook for the financial year as a whole, the Management Board has specified the forecast for the financial year 2025.

Organic revenue growth for the financial year 2025 is expected to be around 6.0%. This specification from "high-single digit" to the lower end of the management's prior expectation of between 6.0% and 9.0% reflects the most recent market dynamics following increased uncertainty given ongoing global policy discussions which impact industry sentiment.

Regarding profitability, SCHOTT Pharma increases its EBITDA margin guidance to around 28.0%, above the previous guidance of "approximately at the level of FY 2024 (26.9%)". The continued high demand for strong-margin HVS, particularly sterile cartridges and specialty vials, led to a beneficial product mix. In addition, SCHOTT Pharma's ongoing measures to improve operational performance and efficiency are positively impacting the company's EBITDA.

Key financial performance indicator	Specified forecast for the financial year 2025	Initial forecast for the financial year 2025	Basis Financial year 2024
Organic revenue growth	around 6%	high-single digit	EUR 957.1m
		approximately at the level of
EBITDA margin	around 28%	FY 2024	26.9%

The forecast for the financial year 2025 includes expected direct effects arising from the global tariff policy developments known at the time of reporting.

Detailed information on the initial forecast for the financial year 2025 can be found in the Combined Management Report in the Annual Report 2024, beginning on page 35.

The risk and opportunity position has not changed significantly since March 31, 2025. Taking all planned or implemented measures into account, there were no identifiable risks at the time of reporting that would individually or collectively jeopardize SCHOTT Pharma's existence as a going concern. Detailed information on SCHOTT Pharma's risk management system and the risk and opportunity position can be found in the Combined Management Report in the Annual Report 2024 beginning on page 37, and on page 10 of the Half-Year Financial Report 2025.

Our forecast is based on various assumptions. It excludes portfolio measures but assumes that exchange rates will remain constant. Furthermore, it assumes that the geopolitical and global economic situation, global supply chains, inflation and energy supply will not deteriorate, and that there will be no further relevant pandemic-related restrictions.

SCHOTT Pharma's actual performance may deviate positively or negatively from our forecasts, either due to the risks and opportunities described in the Annual Report 2024 (section entitled "Report on Risks and Opportunities" in the Combined Management Report) and in the Half-Year Financial Report 2025 (section entitled "Report on Risks and Opportunities"), or because our expectations and assumptions fail to materialize.

Mainz, August 8, 2025

SCHOTT Pharma AG & Co. KGaA Represented by the Management Board of SCHOTT Pharma Management AG

Andreas Reisse Reinhard Mayer

Consolidated Statement of Income

for the period from October 1, 2024 to June 30, 2025

(in EUR k)	Q3 2025	Q3 2024	9M 2025	9M 2024
Revenue	256,460	253,587	738,627	720,040
Cost of sales	-160,361	-166,505	-482,245	-470,133
Gross profit	96,099	87,082	256,382	249,907
Selling expenses	-20,653	-20,209	-63,303	-61,300
General administrative expenses	-11,592	-11,397	-34,431	-33,083
Research and development costs	-7,325	-5,714	-21,562	-18,848
Other operating income	2,586	5,056	13,947	21,762
Other operating expenses	1,007	-378	-5,432	-22,862
Share of profit from investments
accounted for using the equity method	3,120	3,507	9,951	8,877
Operating income (EBIT)	63,242	57,947	155,552	144,453
Interest income	1,801	2,422	5,927	4,318
Interest expenses	-4,914	-3,663	-14,550	-9,126
Net other financial result	10	-786	-938	-1,681
Financial result	-3,103	-2,027	-9,561	-6,489
Profit before income taxes	60,139	55,920	145,991	137,964
Income tax expenses	-14,412	-9,481	-32,685	-21,810
Profit for the period	45,727	46,439	113,306	116,154
thereof attributable to non-controlling interests	163	175	407	443
thereof attributable to limited liability shareholders of SCHOTT Pharma AG & Co. KGaA	45,564	46,264	112,899	115,711
Earnings per share (in EUR), based on the share of profit for the period attributable to limited liability shareholders of SCHOTT Pharma AG & Co. KGaA
Basic	0.30	0.31	0.75	0.77

Diluted 0.30 0.31 0.75 0.77

Consolidated Statement of Financial Position

as of June 30, 2025

Assets
(in EUR k)	Jun. 30, 2025	Sept. 30, 2024
Intangible assets	29,657	30,467
Property, plant and equipment	747,921	723,490
Investments accounted for using the equity method	87,330	85,056
Deferred tax assets	14,270	14,330
Other financial assets	1	6
Other non-financial assets	518	319
Non-current assets	879,697	853,668
Inventories	167,037	140,445
Contract assets	98,597	60,733
Trade receivables	163,196	168,487
Trade receivables – SCHOTT Group	5,734	6,401
Financial receivables – SCHOTT Group	144,482	141,339
Income tax assets	6,062	8,226
Other financial assets	12,905	7,732
Other non-financial assets	22,152	32,056
Cash and cash equivalents	28,288	23,182
Current assets	648,453	588,601
Total assets	1,528,150	1,442,269

Equity and liabilities

(in EUR k)	Jun. 30, 2025	Sept. 30, 2024
Subscribed capital	150,615	150,615
Capital reserves	494,481	494,481
Generated Group equity	250,464	158,483
Accumulated other Group equity	-32,303	-13,173
Equity attributable to limited liability shareholders of SCHOTT Pharma AG & Co. KGaA	863,257	790,406
Non-controlling interests	1,769	1,863
Equity	865,026	792,269
Provisions for pensions and similar commitments	22,147	27,204
Provisions for income taxes	1,467	1,110
Other provisions	6,052	5,994
Deferred tax liabilities	24,331	20,515
Contract liabilities	116,003	78,611
Other financial liabilities	80,355	81,086
Non-current liabilities	250,355	214,520
Other provisions	11,781	10,262
Accrued liabilities	51,242	49,825
Contract liabilities	28,615	22,938
Trade liabilities	50,883	68,933
Trade liabilities – SCHOTT Group	25,954	26,579
Financial liabilities – SCHOTT Group	207,822	200,537
Income tax liabilities	18,645	35,328
Other financial liabilities	5,934	9,945
Other non-financial liabilities	11,893	11,133
Current liabilities	412,769	435,480
Total equity and liabilities	1,528,150	1,442,269

Consolidated Statement of Cash Flows

for the period from October 1, 2024 to June 30, 2025

(in EUR k)	9M 2025	9M 2024
Profit for the period	113,306	116,154
Depreciation, amortization and impairment as well as impairment reversals on non-current assets	57,346	46,977
Changes in provisions and accrued liabilities	10,395	2,462
Other non-cash income/expenses	-6,131	-1,422
Net gain or loss on the disposal of intangible assets and property, plant and equipment	-243	-535
Net gain or loss from financial assets	-774	-741
Changes in inventories and advance payments made on inventories	-27,835	-8,952
Changes in contract assets	-37,864	-15,444
Changes in trade receivables	-85	-24,561
Changes in trade receivables – SCHOTT Group	1,279	3,605
Changes in other assets	8,231	6,265
Changes in contract liabilities	42,294	18,925
Changes in trade liabilities	-17,580	-651
Changes in trade liabilities – SCHOTT Group	539	4,297
Changes in other liabilities	-18,017	8,521
Changes in deferred taxes	2,722	-7,548
Dividends received from investments accounted for using the equity method	0	2,000
Cash flows from operating activities (A)	127,583	149,352
Cash inflows from the sale of property, plant and equipment	1,135	959
Purchase of property, plant and equipment	-88,933	-80,524
Purchase of intangible assets	-366	-88
Cash inflows from the sale of financial assets	2,601	0
Purchase of financial assets	-2,601	-1,745
Cash flows from investing activities (B)	-88,164	-81,398
Dividends paid to limited liability shareholders	-24,098	-22,592
Dividends paid to non-controlling interests	-479	-386
Changes in financial receivables – SCHOTT Group	-5,739	-88,663
Changes in financial liabilities – SCHOTT Group	7,455	49,913
Cash outflows from allocation to plan assets	-7,094	-4,361
Cash inflows/outflows from financial assets	75	-282
Cash inflows/outflows from financial liabilities	73	-366
Cash outflows from repayments of outstanding lease liabilities	-3,862	-2,032
Cash flows from financing activities (C)	-33,669	-68,769

(in EUR k)	9M 2025	9M 2024
Net change in cash and cash equivalents (A+B+C)	5,750	-815
Cash and cash equivalents at beginning of the period	23,182	24,357
- Cash on hand	3	7
- Bank deposits	23,179	24,350
Change in cash and cash equivalents due to foreign exchange rates	-644	-1,389
Cash and cash equivalents at end of the period	28,288	22,153
- Cash on hand	3	4
- Bank deposits	28,285	22,149

(in EUR k)	9M 2025	9M 2024
Additional notes to the Consolidated Statement of Cash Flows1
Interest paid	-12,005	-6,940
Interest received	5,927	4,318
Income taxes paid	-43,544	-23,406

1 Included in cash flows from operating activities.

Additional Information

Financial calendar

Date	Event
December 11, 2025	Publication of Annual Report 2025
February 3, 2026	Annual General Meeting

Disclaimer/Forward-looking statements

This Quarterly Statement contains forward-looking statements which are based on the Company's assumptions, expectations and intentions. Such statements are indicated by words such as "expect", "assume", "intend" or similar wording, and are based both on the information currently available to management and on the prevailing environment. These may change at any time. The Company assumes no liability for the correctness and accuracy of any expectations or assumptions expressed in this statement. The Company also undertakes no obligation to update any of its forward-looking statements to bring them in line with actual developments after this Quarterly Statement has been published.

Publication

This Quarterly Statement was published on August 12, 2025. The document is also available in German. In the event of any discrepancies, the German version shall be authoritative and prevail over the English translation.

In the interest of sustainability, the Company's quarterly statements are not available in printed form. All quarterly statements are available online for download in PDF format.

Rounding, language and formatting

Due to rounding, individual figures in this document and in other documents may not correspond exactly to the totals stated, and percentages shown may not exactly reflect the absolute values to which they relate.

Imprint

Website: www.schott-pharma.com Investor Relations: www.schott-pharma.com/investor-relations Press: www.schott-pharma.com/news-and-media Translation: LanguageWire GmbH, Hamburg, Germany Photography: SCHOTT AG

Publisher

SCHOTT Pharma AG & Co. KGaA Hattenbergstrasse 10 55122 Mainz, Germany