Schenck Process reports strong Q1 results despite challenging market environment
Published by Sol Klappholz,
Assistant Editor
World Cement,
Q1 2022 Highlights:
- Continued strong order intake at €224 million.
- Double-digit sales growth at €187 million, up 21%.
- Continued strong order book of €598 million, up 40%.
- Adjusted EBITDA of €20 million, up €1.7 million.
Sales grew by 21% to €187 million led by an outstanding performance in the Americas as a result of significant order wins in pet food during 2021. A strong recovery across the APAC region and first synergy effects from the acquisition of SHAPE (Thailand) further contributed to the Group's positive sales development, while EMEA sales were negatively impacted by supply chain constraints.
Aftermarket sales continue with a positive trend with sales up 4% supported by an expanding digitalisation offering and growing demand for digital add-ons and remote services.
The order book remained at a high level of €598 million (+40%) ensuring continued business momentum for 2022.
Earlier this month Schenck Process announced an agreement for the sale of the Mining business to Swedish engineering group Sandvik AB. The transaction is expected to complete in the second half of 2022, subject to regulatory approvals.
Keith Cochrane, CEO, commented:
“We continued to demonstrate the resilience of our business by delivering another strong performance in Q1 2022. The disposal of our mining business will enable us to advance a more focused strategy for our other core businesses and strengthen our positions as a global solutions provider for the food, chemical and performance materials as well as the infrastructure & energy markets. Despite a difficult global environment, we are looking forward to a period of further growth building on our recent successes.”
Read the article online at: https://www.worldcement.com/europe-cis/30052022/schenck-process-reports-strong-q1-results-despite-challenging-market-environment/
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