Schenck Process Q3 performance: Strong top-line growth across regions and end-markets drives profit

 

Q3 2021 Highlights

• 3rd consecutive quarter order intake high at 264m€, up 80%¹
• Record order book of 605m€, up 113%²
• Accelerated Q3 sales growth, up 32%¹
• Adj. EBITDA of 29.2m€, up 6m€¹, bringing YTD adj. EBITDA to 72.1m€, up 29m€²

Driven by sustained market recovery and further progress in the implementation of its strategic agenda, the Schenck Process Group is building on the strong performance of previous quarters. Despite continued challenges from the Covid-19 pandemic and global supply chain disruptions, the Group achieved a new record order intake of 264m€ bringing the order book to 605m€ by the end of September 2021.

The Group reported sales of 189m€ for the quarter bringing YTD 2021 revenues to 500m€, with double-digit sales growth across both the Original Equipment and the Aftermarket business. All regions contributed to the strong momentum, particularly EMEA (40m€ / up 40%¹) and the Americas (97m€ / up 65%¹). Despite Covid-19 induced subdued activity in some parts of the Asia-Pacific region, Schenck Process also recorded significant order growth in India.

Supported by the strong topline momentum as well as continued focus on operational efficiency, SPG has increased adjusted EBITDA to 72.1m€ during the first nine month of 2021 translating into strong cash generation and deleverage.

Keith Cochrane, CEO, commented:

“Against the backdrop of the ongoing pandemic and other global challenges, our Group has achieved another quarter of strong growth, surpassing the performance of pre-Covid times in terms of order intake, sales and profitability. By effective execution of our strategy, we are seeing good momentum across our strategic focus areas. With an order book in excess of 600m€, I am confident that we will close 2021 with a record result and have the platform to support further growth into 2022.”

¹⁾ vs. Q3 2020 ²⁾ vs. Sep. YTD 2020