Despite the challenges of the pandemic, Schenck Process has made a strong start to 2021 delivering a good Q1 financial performance and effective execution on strategy.
Order intake (fx-adjusted) grew across several end markets and regions, most notably food (123%), chemicals & performance materials (83%) and the Americas region (83%). Over 50% of order intake continues to be generated from the Group’s strategic focus markets of food and mining. Looking forward, across all markets and regions, there is a strong project pipeline reflecting the broad-based pick up in business activity.
In Q1 2021 Schenck Process booked additional orders from a leading pet food producer with current expectations of a total order value of over US$150m by year end. The Group also secured further project wins in the chemicals and performance materials markets. In the Chinese polycarbonate industry, Schenck Process achieved a considerable milestone with a first large-scale order from a leading supplier of innovative chemical products.
With a focus on environmental-friendly solutions, the Group supported customers in achieving their sustainability goals. In EMEA, Schenck Process enabled a cement and building materials producer to reduce the fuel supply from coal and CO2 footprint by introducing alternative energy sources.
In March, Schenck Process launched its digital brand Schenck Process NEXT and introduced its IoT backbone CONiQ Cloud. Both are key drivers to enhance the Group’s digital offerings and leading towards a future of increased connectivity. Further details and updates are available on the Schenck Process NEXT website.
CEO Keith Cochrane says, “Despite the challenges of the pandemic, the Group has made a strong start to 2021 delivering a good Q1 financial performance and effective execution on our strategy. I am confident that we can continue to demonstrate the strength of our business model and deliver on our strategy moving forward.”
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