Schott AG posted net profit of EUR 105M in fiscal 2005/06, to 30/09/06, against EUR 5.0M the previous year, the company announced 8/03/07. Sales in 2005/06 amounted to EUR 2.23BN, up 19% year-on-year. For 2006/07, the company expects sales growth in the single-digit % range. The substantial sales increase in 2005/06 was mainly due to the globalisation of the market & does not indicate a long-term trend, CEO Udo Ungeheuer said. Schott expects a positive impact mainly from the solar energy industry. Currently, the company supplies tens of thousands of receivers for the two solar-thermal energy plants in the USA, & Spain. In order to cope with demand from other large-scale projects, Schott is building a EUR 22M production plant in Spain & plans to invest a total of EUR 300M in tangible assets throughout fiscal 2006/07, EUR 185 will be invested in Germany. At present, the company is constructing a EUR 60 million (USD 78.8 million) facility to make thin-film modules for the photovoltaic industry in Jena, central Germany. Schott also projected sales increase in the drug and component packaging segments as well as in the glass ceramics division in 2006/07.
