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Algemeen advies 24/08/2022 12:49
- The quarterly and interim results are not audited -

Kendrion revenue growth continues under challenging trading conditions
• HY1 2022 revenue of EUR 256.8 million, an increase of 9%compared with EUR 234.6 million in HY1 2021
• Q2 2022 revenue of EUR 126.9 million, 6% higher than the EUR 119.3 million of Q2 2021
• Normalized HY1 2022 EBITDA of EUR 30.5 million, 4% lower than HY1 2021 (EUR 31.9 million)
• Normalized Q2 2022 EBITDA of EUR 13.7 million (Q2 2021: EUR 15.8 million)
• Stable value-added margin despite higher raw material costs
• Excellent Industrial performance with 22% revenue growth and 28% higher EBITDA
• Automotive production successfully relocated from Eibiswald facility to Sibiu and Villingen
• Construction of new manufacturing facility in Suzhou Industrial Park on schedule to open in Q1 2023
• Investment in production capacity, and in software and electronics d evelopment capabilities continue as the push towards cleaner energy drives future growth opportunities
• Healthy financial position with a leverage ratio of 2.6 despite significant capital investments.

Joep van Beurden, Kendrion CEO:

“We had a solid first half-year, facing difficult market conditions including inflation, geopolitical uncertainty, supply chain and order volatility, and restrictive COVID measures in China. Revenue increased by 9%, despite the loss of approximately 6 weeks of production in China. We achieved a healthy EBITDA margin of 11.9%.

Our industrial business continues to perform well due to a strong demand for products supporting the transition towards cleaner energy. Industrial Brakes grew by 19% compared to the first half of 2021, despite the COVID-related production shutdown in China. The accelerating transition towards electrification continues to push the demand for industrial brakes in all segments and across all regions. Industrial Actuators and Controls grew by 25% or by 13% excluding 3T. Underlying demand is strong across most segments and the demand for new products such as rotary locks for industrial washing machines and inductive heating for industrial baking is increasing.

Within Automotive, trading continues to be difficult, due to high demand swings combined with lower volumes, semiconductor shortages and raw material price increases. We successfully protected our value-added margin and completed the relocation of our Eibiswald production lines to Sibiu and Villingen. In China, the construction of our new manufacturing facility at the Suzhou Industrial Park is progressing well, and we expect the site to become operational during the first quarter of 2023.

The market for products supporting the global push towards electrification and cleaner energy is strong. We therefore continue to invest in products, capabilities, and production capacity to make full use of this opportunity. In Industrial and China, we are growing our R&D team and expanding our production capacity to support further organic growth. In Automotive we are investing in additional software and electronics development capabilities to support our product pipeline. At our Capital Markets Day on 8 September in Amsterdam we will elaborate on the opportunities related to these investments.

While we believe that the economic environment will remain unpredictable for the foreseeable future, we reiterate our medium-term financial targets: 5% organic growth between 2019 and 2025, an EBITDA of at least 15% in 2025, and an ROIC of at least 25% in 2025.”
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ongeren massaal aan de ORS: 'Helpt tegen kater'
Video
Het anti-uitdrogingsmiddel ORS is plots in trek bij jongeren. Op TikTok wordt namelijk beweerd dat het middel goed zou werken tegen een kater. Apotheker Marloes Dankers van het Instituut Verantwoord Medicijngebruik heeft daar grote twijfels bij. ga voor meer naar
https://www.telegraaf.nl/video/1521724741/jongeren-massaal-aan-de-ors-helpt-tegen-kater



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