Schenck Process GmbH (Germany) - Press Release: Schenck Process publishes Q1 2022 results.
Q1 2022 Highlights:
- Continued strong order intake at 224m€
- Double-digit sales growth at 187m€, up 21%(1)
- Continued strong order book of 598m€, up 40%(1)
- Adjusted EBITDA of 20m€, up 1.7 m€(1)
Schenck Process delivered a strong Q1 performance continuing the growth momentum of recent quarters with Original Equipment and Aftermarket order intake amounting to 224m€ with particular strength in APAC (up 8%(1)).
Sales grew by 21%(1) to 187m€ 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%(1) supported by an expanding digitalization offering and growing demand for digital add-ons and remote services.
The order book remained at a high level of 598m€ (+40%(1)) 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.”
About Schenck Process:
Schenck Process is a leading global provider of sustainable products, integrated solutions, and services in mission-critical applications for bulk materials. Headquartered in Darmstadt, Germany, the Group has more than 3,000 employees with a presence in over 21 countries across six continents focused on the food and mining market segments, alongside chemicals and performance materials, and infrastructure and energy.
The product offering includes solutions for industrial weighing, feeding, conveying, pulverizing and classification, screening, mixing and blending, and associated digital applications.