Oerlikon delivers strong Q2 & H1 2021 results

Oerlikon delivers strong Q2 & H1 2021 results

According to Roland Fischer, CEO Oerlikon Group, the company delivered a strong second quarter and half-year performance, due to the strategy and the actions taken over the past two years.

According to
Roland Fischer, CEO Oerlikon Group, the company delivered a strong second
quarter and half-year performance, due to the strategy and the actions taken
over the past two years.

He also said
that, Surface Solutions continued to capture business as demand is picking up,
and the improved EBITDA margin underlines the continued positive effects from
the cost actions. Polymer Processing Solutions saw healthy demand in both
filament and non-filament businesses. The strategic diversification in polymer
processing, including flow control and sustainable recycling technologies, is
expected to generate additional revenue opportunities in the coming years.

He added
that in view of the strong business momentum and the acquisitions of INglass
and Coeurdor, they are increasing the guidance. They expect 2021 sales to be
around CHF 2.65 billion and the operational EBITDA margin to be
around 16.5%. 

Group orders
increased across all regions by 7.2% to CHF 647 million, and sales
were up 23.2% to CHF 628 million, driven by recovery in Surface
Solutions and higher demand in Polymer Processing Solutions. At constant
exchange rates, Group sales increased by 22% to CHF 622 million.

In the first
half of 2021, the Group’s order intake increased by 19.3% year-on-year to
CHF 1 289 million and sales were up 15.1% to
CHF 1 196 million. Operational EBITDA for the half year amounted
to CHF 202 million, corresponding to a margin of 16.9%.

Table I:
Reconciliation of Q2 2021 and H1 2021 operational EBITDA and EBITDA1

In CHF million

Q2 2021

Q2 2020

H1 2021

H1 2020

Operational EBITDA

111

56

202

117

Income/Expenses related to
restructuring

1

-21

1

-21

Expenses related to discontinued
activities

–

-1

–

-3

Expenses related to acquisition
and integration costs2

-1

–

-3

–

EBITDA

112

34

200

92

 

As
of June 30, 2021, Oerlikon had CHF 486 million of net debt,
attributed to acquisitions and dividend payment. Cash flow from operating
activities for the first half of 2021 was CHF 36 million, compared to
CHF -5 million in 2020, due to the improved net result.

Surface
solutions markets, except aerospace and power generation, continued to recover
across all regions in the second quarter. Automotive saw strong recovery in the
first half of 2021 (Q2: +49% year-over-year) despite challenges with chip
shortage.

The
Polymer Processing Solutions Division delivered another strong quarter, driven
by demand for filament and plant engineering solutions in China, including
staple fibers and continuous polycondensation plants.

The
INglass acquisition, completed in the beginning of June 2021, accelerated
Oerlikon’s strategy of diversifying its polymer processing business into
non-filament areas, such as hot runners and engineering and consultancy
services for developing advanced polymer processing products. This acquisition
and other organic diversification efforts, such as sustainable recycling of
polymers, are expected to generate additional revenues for Oerlikon in the
coming years.

Oerlikon is a global innovation powerhouse for surface
engineering, polymer processing and additive manufacturing. Headquartered in
Pfäffikon, Switzerland, the Group operates its business in two Divisions –
Surface Solutions and Polymer Processing Solutions.

Source: Oerlikon Press Release

Image
Source: Google Images

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https://indiantextilejournal.com/latest-textile-industry-news/rise-in-fashion-sales-by-210–in-h1-2021–snapdeal

https://indiantextilejournal.com/latest-textile-industry-news/prashant-yadav-to-head-srf-s-technical-textiles-biz

 

 

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