Schenck Process Announces Strong Q4 and Full Year 2021 Results with Continued Momentum
Q4 2021 Highlights:
- Order intake at 191m€, up 7%1
- Continuing sales growth in Q4 at 253m€, up 41%1
- Adjusted EBITDA of 49m€, up 33%1 (12m€)
- Double-digit growth of Original Equipment sales in Americas and EMEA
FY 2021 Highlights:
- Record order intake at 972m€, up 58%1
- Record order book of 550m€, up 66%1
- Accelerated FY sales growth of 753m€, up 28%1
- Adjusted EBITDA of 121m€, up 30m€1
- Growth momentum continued in all segments across all regions
- Strong, accelerating growth reflected in 2022 outlook
In 2021 Schenck Process delivered a strong financial performance alongside continued progress in delivering on the Group’s strategic agenda. Despite ongoing pandemic and logistics challenges, the Group achieved a record-high order intake of 972m€ (+58%)1 with Food and Mining markets representing 59% of new orders. Robust growth of Original Equipment and Aftermarket business across all regions resulted in sales increasing to 753m€ (+28%)1.
Contributing to this success were exceptional Q4 results with sales up 41%1 led by significant growth in the Americas underpinned by ongoing success in the pet food markets. Following this strong business momentum, the 2021 year-end order book was 550m€ (+66%)1 providing a positive start to 2022.
Continuing the strategic plan to position Schenck Process as a global end-to-end systems provider for the food industry the Group completed the acquisition of SHAPE (Thailand) and benefited from leveraging synergy effects with Baker Perkins. In 2021 the Food segment, including pet food, represented 39% of total order intake.
Aftermarket business continued to demonstrate its resilience supported by successful introduction of digital add-ons and remote services, resulting in revenue increasing to 306€m (+4%)1.
The company advanced its digital agenda with extended solution offerings and a successful launch of the CONiQ Cloud, CONiQ Assist and LOGiQ 2.0 platform. Overall, there was a positive reception to the Group’s digital initiatives, creating a solid foundation for further development.
Keith Cochrane, CEO, commented:
“We once again demonstrated the strength of our business model and delivered a strong set of results withrecord order intake despite the challenging market environment. In 2021, we continued to successfully execute on our strategy of delivering on customer commitments, operational excellence, product innovation and fostering digital transformation. We enter 2022 with strong momentum and anticipate a year of further growth and building on our strategic progress to date.”
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 around 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.
For further company news and information, please visit www.schenckprocess.com
1) – vs PY (FX adjusted)