Turnover continued to grow in Q3 2022

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Overig advies 15/11/2022 08:40
2022 outlook reiterated

TKH Group NV (TKH) publishes its Q3 2022 trading update.

Highlights third quarter 2022

Turnover increased by 16.7% to € 451.2 million (Q3 2021: € 386.7 million) due to strong volume growth. Price effects and exchange rates had an upward impact of 7.9% and 1.6% respectively on turnover.
All segments contributed to the growth in turnover, with turnover growth in Smart Manufacturing systems limited by the previously announced component shortages.
EBITA before one-off income and expenses increased by 4.4% to € 55.2 million (Q3 2021: € 52.9 million), impacted by raw material price effects and supply-chain constraints.
Order book continued to grow compared to the previous quarter.
ROS was 12.2% over Q3 2022 (Q3 2021: 13.7%).

Alexander van der Lof, CEO of TKH: “Amidst challenging times, we continued to build on our record performance this year. Our high growth in turnover and growing order book clearly show that TKH is well positioned to benefit from the digitalization, automation, and energy transition megatrends. We expect a record high order intake for 2022. Component shortages are mainly affecting the Smart Manufacturing segment. We expect this to continue in the coming quarters, which will delay the completion of projects and increase operational inefficiency. The execution of our Accelerate 2025 program is well on track, and we are excited about the opportunities we have.”
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