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 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 U.S.

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

The company 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 is working to become climate neutral by 2030. The U.S. locations were one of the first countries to achieve this goal.

Jim Gareau, president of Schott North America, notes that the company’s equity ratio remains strong at 32%, a solid result in challenging economic times.

“Our financial strength positions us well for organic growth. 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,” he says.

“The U.S. remains the global powerhouse of innovation,” adds 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.”

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