SMS improves due to steel and metals green transformation
In the last financial year, SMS group again significantly boosted its order intake to 4.6 billion euros. The main drivers of this strong growth were the green transformation of the steel and metals industry as well as robust economic activity in both India and the USA. Sales also rose considerably to 3.1 billion euros (previous year: 2.6 billion euros).
‟Last year was again marked by problem areas and crises around the world,” says Burkhard Dahmen, CEO of SMS group. ‟Against this background, 2022 proved to be a good year, in which we achieved our interim goals despite various challenges and took the company forward significantly in terms of its organization.
We saw a further increase in the service business in terms of both order intake and turnover. The goal remains to expand the service share of our total turnover to 50 percent by 2027. Most recently, SMS secured a service order from H2 Green Steel worth more than 400 million euros over twelve years.
With regard to earnings before taxes, the company achieved a result of 19 million euros, only slightly above the adjusted previous year’s level (15 million euros) due to the Russian war of aggression and the associated withdrawal from business in Russia.”
Torsten Heising, CFO of SMS group: ‟The high order intake is impressive, especially as it does not yet include the latest major orders. Based on the good order backlog, we intend to systematically increase our profitability in the coming years. We are already planning a significant improvement in results for the current year.”
Net liquidity was 501 million euros. The downturn compared to the previous year is due to extensive investments, including the service company KAEFER, as well as the new SMS Campus in Mönchengladbach and new service workshops in the USA.
