Pharmaceutical demand fuels record year performance for Syntegon

GERMANY— Syntegon Group, a key partner to the global pharmaceutical, biotech, and food industries, reported record financial results for fiscal year 2024.

The company’s new corporate strategy, launched in 2024 and focused on growth, operational excellence, and long-term value creation, drove strong performance across all key metrics.

Syntegon’s order intake rose by 11% to €1.8 billion (US$1.9 billion), while revenues increased 7% to €1.6 billion (US$1.7 billion).

This growth boosted profitability and cash flow significantly. Adjusted EBITDA grew by 15% to €222 million (US$235 million), representing a 14% EBITDA margin, up 1 percentage point from the prior year.

Operational excellence initiatives played a major role in improving margins, and disciplined working capital management strengthened cash flow.

The pharmaceutical business was the main growth driver, with order intake up 17% and revenue up 11%, accounting for 58% of total orders.

The food business also grew, with orders up 4% and revenues up 2%, representing 42% of total orders.

Notably, the high-margin service business achieved double-digit sales growth and made up 39% of total revenue.

Torsten Türling, Syntegon’s CEO, said 2024 marked a new chapter of accelerated growth and value creation.

He highlighted the company’s talented workforce and the strong customer demand for lifecycle services and turnkey solutions.

Türling emphasized that Syntegon’s focus on the pharmaceutical and biotech sectors positions it well to capitalize on long-term growth trends in these industries.

Eros Carletti, the CFO, added that the company exceeded financial targets across most business units.

He noted that Syntegon’s solid financial position and strong cash flow provide a foundation for further organic growth and strategic acquisitions, enhancing its capabilities.

In 2024, Syntegon also completed the acquisition of the Telstar Group, a leader in freeze-drying technologies for pharma and biotech.

This deal strengthens Syntegon’s global leadership in turnkey aseptic filling solutions for large-volume vial formats, critical for vaccines and blood plasma products.

On the food side, Syntegon achieved record results driven by its Switzerland-based horizontal packaging division, which supplies automated solutions to major global food companies.

The company sharpened its focus by divesting its lower-margin Food Liquid business and consolidating manufacturing in the U.S. at its New Richmond, Wisconsin plant1.

Sustainability is still a top concern, as seen by Syntegon’s 2024 carbon reduction goals, which were approved by the Science Based Targets project.

The goals are to reduce Scope 1 and 2 emissions by 50% and Scope 3 emissions by 25% until 2030.

 In April 2025, Syntegon earned a platinum rating from EcoVadis, placing it among the top 1% of companies worldwide for sustainability.

Looking ahead, Syntegon expects to maintain strong growth momentum in 2025, supported by a robust order book and favourable industry trends, especially in pharma and biotech.

The company anticipates further margin improvements driven by the growing share of high-margin services and ongoing operational efficiencies.

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