Oerlikon Group’s Sales Increased by 20 Percent in the First 6 Months of 2022
“In Surface Solutions, we experienced improved demand, even as many of our end markets still face supply chain challenges. While macroeconomic uncertainties increase, we have not seen any unanticipated impacts to date. We are closely monitoring the situation and focusing on further improving our cost competitiveness,” added Süss. “Polymer Processing Solutions continued to execute and delivered another strong quarter of sales growth and margin improvement, driven by filament and non-filament.”
Strong Second Quarter
Group orders increased by 19.5% to CHF 773 million, driven by strong demand in both the filament and non-filament business in Polymer Processing Solutions. Group sales increased globally by 16.9% to CHF 734 million, attributed to growth in both Surface Solutions and Polymer Processing Solutions. At constant exchange rates, Group sales increased by 19.7%.
The operational EBITDA for the second quarter improved by 15% year-over-year to CHF 128 million, corresponding to a margin of 17.4%.
Order Intake Increased by 21.2% in the first half of 2022
In the first half of 2022, the Group’s order intake increased by 21.2% year-on-year to CHF 1 563 million, and sales were up 19.7% to CHF 1 432 million. Operational EBITDA for the half year amounted to CHF 247 million, corresponding to a margin of 17.2%. Operational EBIT was CHF 135 million, or 9.4% of sales.
The net result for the first half of the year increased by 23% to CHF 88 million, driven by EBITDA growth. As of June 30, 2022, Oerlikon had CHF 513 million of net debt, representing a net debt to operational EBITDA ratio of 1.0. Cash flow from operating activities for the first half of the year was CHF 22 million, compared to CHF 36 million in 2021, mainly due to the increase in inventories.
The Surface Solutions Division saw a 10% increase in sales, driven by general industries, energy and aviation. Automotive continued to be impacted by supply chain shortages, particularly in China and South Korea. Shortages are expected to moderate in the second half of the year. The division’s order intake slightly increased in the second quarter by 1% to CHF 348 million, while orders for the half year increased by 8% to CHF 724 million.
The Polymer Processing Solutions Division continued to grow profitably in the second quarter. Q2 2022 order intake increased by 40% to CHF 425 million. Sales increased by 24% to CHF 383 million year-over-year, driven by structural demand for filament equipment, flow control systems, plant engineering solutions and a recovery in demand in the U.S. carpet yarn market.
