6M/2022 – remarkable
results and uplifted
year-end outlook
In the first half of 2022, Exyte recorded an increase of almost 50 percent year-on-year both in sales and order intake.
Sales amounted to €3.4 billion (6M/2021: €2.3 billion) due to large scale projects in the EMEA and APAC regions. Order intake reached €4.7 billion (6M/2021: €3.2 billion) driven by strong client demand especially in Southeast Asia.
Exyte’s profitability further improved resulting in an adjusted EBITDA of €222 million (6M/2021: €136 million) and adjusted EBIT of €202 million (6M/2021: €122 million). The adjusted EBITDA margin improved by 0,6 percentage points to 6.6 percent (6M/2021: 6.0 percent). With 6.0 percent, the adjusted EBIT margin is also 0.6 percentage points higher compared to previous year (6M/2021: 5.4 percent).
Despite the economic headwind, Exyte is able to continue its growth path, its ‘Pathway to Ten’. To support Exyte’s ambitious journey, the company needs highly motivated and skilled employees. Exyte increased its global workforce by another 1,100 employees to almost 8,600 since the beginning of 2022. At the end of the year the company expects to have more than 9,000 employees worldwide.
Continued growth realized in all business segments; Advanced Technology Facilities remains the main growth driver, however Biopharma & Life Sciences is a strategic growth segment for Exyte
In the first six months of 2022 all three business segments acquired substantial new projects across all regions. With a sales share of around 86.8 percent of the group’s total sales, the business segment Advanced Technology Facilities recorded a sales increase to €2.9 billion (6M/2021: €2.0 billion). Incoming orders increased to €4.2 billion (6M/2021: €2.7 billion). The segment continues to benefit from the constantly growing demand for semiconductor facilities especially driven by major players in Asia-Pacific. New Advanced Technology Facilities projects include semiconductor facilities for the Massachusetts Institute of Technology (MIT) in the USA and semiconductor facilities for AT&S (Austria Technologie & Systemtechnik AG) in Malaysia and Austria, among others.
The business segment is also benefiting from the increasing demand for battery powered electric vehicles. In Germany, Exyte is currently building the first plant outside of China for a major Chinese battery manufacturer.
Biopharma & Life Sciences is a strategic growth segment for Exyte. Due to major projects in Singapore and Malaysia (amongst others a major Active Pharmaceutical Ingredients (API) facility for Pfizer), the segment’s sales reached €291 million (6M/2021: €170 million), accounting for 8.7 percent of total sales of the group (6M/2021: 7.6 percent). Order intake totaled €283 million. In Germany, Exyte is building the mRNA competence center for Wacker Chemie AG. The new facility is a lighthouse project for the business segment Biopharma & Life Sciences.
Benefiting from projects in Germany and Israel, sales of the Data Center segment almost doubled reaching €114 million (6M/2021: €59 million). The order intake rose by almost 50 percent to €233 million (6M/2021: €158 million). In addition to the projects in Germany and Israel, the business segment currently implements data center projects in Austria, Denmark, Malaysia, and Taiwan, amongst others.
Financial targets for 2022 will be outperformed despite uncertainties
Notwithstanding the current global geopolitical and economic uncertainties with inflation, supply shortages, and impending energy scarcities and rising prices, Exyte expects to outperform its financial targets reaching annual sales of almost €7.0 billion by the end of 2022. Of course, neither Exyte, nor its clients can escape the current tense situation. Consequently, the company will monitor global and local developments very closely in the coming weeks and months and react appropriately if necessary.
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