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News Schenck Process’ first-quarter sales and earnings increase in 2022

Schenck Process’ first-quarter sales and earnings increase in 2022

Written by Global Cement staff 17 May 2022
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Germany: Schenck Process’ first-quarter sales increased by 21% year-on-year to Euro187m in 2022, led by an ‘outstanding performance’ in its Americas region, according to the company. The company’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the quarter were Euro20m, up by 9.3% year-on-year. Schenck Process said that it experienced synergy effects from its acquisition of Thailand-based material processing and packaging company SHAPE and agreed to sell its mining business to Sweden-based Sandvik. It said that a Euro598m order book ensures its ‘continued business momentum’ throughout the remaining quarters of 2022.

Chief executive officer Keith Cochrane said “We continued to demonstrate the resilience of our business by delivering another strong performance in the first quarter of 2022. The disposal of our mining business will enable us to advance a more focused strategy for our other core businesses and strengthen our positions as a global solutions provider for the food, chemical and performance materials as well as the infrastructure and energy markets. Despite a difficult global environment, we are looking forward to a period of further growth building on our recent successes.”

Last modified on 18 May 2022
Published in Global Cement News
Tagged under
  • Germany
  • Schenck Process
  • regions
  • Results
  • SHAPE
  • Thailand
  • Sweden
  • Sandvik
  • Outlook
  • Strategy
  • diversification
  • Supplier
  • GCW557

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