The Syntegon Group, a global technology leader serving the pharmaceutical, biotech, and food industries, announced record financial results for fiscal year 2024, underscoring the momentum of its recently launched growth strategy.
With a focus on operational excellence and long-term value creation, the company delivered double-digit gains in profitability, robust revenue growth, and a significant uptick in cash flow.
“In 2024, we embarked on a new chapter of accelerated growth and value creation,” said Torsten Türling, CEO of Syntegon. “We are building on the incredible talent of the people at Syntegon, and our customers highly value our lifecycle services and turnkey solution approach. With our new strategic focus, we are well positioned to capture the strong long-term growth fundamentals, in particular of the Pharma and Biotech sectors.”
The company posted an 11% increase in order intake, reaching €1.8 billion, while revenues rose by 7% to €1.6 billion. These gains were accompanied by a 15% increase in adjusted EBITDA, which reached €222 million, translating into a 14% EBITDA margin—100 basis points higher than the prior year. Operational efficiency initiatives and disciplined working capital management were cited as key contributors to the performance.
The pharmaceutical segment emerged as the primary growth engine, accounting for 58% of total order intake in 2024. Pharma orders rose 17%, while revenue increased by 11%. The food division also contributed, albeit at a more moderate pace, with order growth of 4% and a 2% rise in revenue, representing 42% of total orders. The company’s high-margin service business reported double-digit sales growth and contributed 39% of total revenue.
“At both the Group level and across most business units, we exceeded our financial targets,” said Eros Carletti, CFO of Syntegon. “Our solid financial performance, strong cash flow, and robust balance sheet position us well to pursue further organic growth and strategic acquisitions, enabling us to continue expanding our capabilities.”
Syntegon’s 2024 strategy rollout followed a leadership transition in late 2023 and introduced a simplified operating model built around four business units. The company emphasized its commitment to accelerating decision-making and enhancing operational agility to better capture opportunities in its core sectors.
In the Pharma Liquid segment, Syntegon’s industry-leading aseptic cartridge filling line solutions played a pivotal role in order growth. These systems are increasingly vital to pharmaceutical manufacturers scaling up production to meet surging global demand for treatments in areas such as anti-obesity medications.
A major milestone came with Syntegon’s acquisition of the Telstar Group in October 2024. Telstar, a key provider of freeze-drying technologies for the pharma and biotech industries, strengthens Syntegon’s turnkey capabilities in aseptic filling for high-volume applications such as vaccines and blood plasma products.
Meanwhile, the company’s Food business achieved record performance, bolstered by its Swiss-based horizontal packaging unit, which offers fully automated, end-to-end solutions to major global food producers. As part of a strategic focus on scalable line solutions, Syntegon divested its lower-margin Food Liquid business in mid-2024. The company also optimized its U.S. operations by consolidating manufacturing activities at its New Richmond, Wisconsin plant.
Sustainability remained a core priority in 2024. The Science Based Targets initiative validated Syntegon’s ambitious climate goals, including a 50% reduction in Scope 1 and 2 emissions and a 25% cut in Scope 3 emissions by 2030. In April 2025, the company was awarded a Platinum rating by Ecovadis, placing it among the top 1% of companies globally for sustainability performance.
Looking ahead, Syntegon expects continued growth in 2025, supported by a strong order book and favorable tailwinds in the pharmaceutical and biotech sectors. An expanding service business and further gains in operational efficiency are anticipated to drive additional margin improvements in the year to come.
Find out more at: https://www.syntegon.com/
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