Profitable growth continues: Exyte with remarkable 6M/2022 results and uplifted year-end outlook
- Order intake rose by almost 50 percent year-on-year, marking a new 6M-high with €4.7 billion
- Sales volume increased by almost 50 percent to €3.4 billion
- Adjusted EBIT increased by approximately two thirds to €202 million; adjusted EBITDA rose to €222 million, plus over 60 percent
- Global workforce increases to almost 8,600 employees
- Updated year-end outlook: sales of almost €7.0 billion expected
STUTTGART, Germany, Aug. 16, 2022 /PRNewswire/ -- Exyte GmbH (Exyte), a global leader in the design, engineering, and delivery of high-tech facilities, continues its strong performance during the first half of fiscal year 2022 successfully progressing on its accelerated growth path, its "Pathway to Ten."
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).
"We are pleased with our increased sales as well as the robust growth in incoming orders in the first six months of 2022," says Dr. Wolfgang Büchele, CEO of Exyte. "Despite the economic headwind, we are able to continue our growth path, our 'Pathway to Ten.' To support our ambitious journey, we need highly motivated and skilled employees. We increased our global workforce by another 1,100 employees to almost 8,600 since the beginning of 2022. At the end of the year Exyte expects to have more than 9,000 employees worldwide. Together with our growing, highly dedicated workforce we are taking Exyte to the next level."
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, we expect to outperform our financial targets reaching annual sales of almost €7.0 billion by the end of 2022," states Peter Schönhofer, CFO of Exyte. Of course, neither Exyte, nor its clients can escape the current tense situation. "Consequently, we need to monitor global and local developments very closely in the coming weeks and months and react appropriately if necessary," adds Schönhofer.
In accordance with an increase in sales, a respective rise in adjusted EBITDA and adjusted EBIT is expected – envisaging a forecasted adjusted EBITDA of approximately €450 million, respectively an adjusted EBIT above €400 million for the full year of 2022. Exyte is constantly progressing on its "Pathway to Ten" with the goal of reaching €10.0 billion annual sales in 2027. The high order backlog of €8.2 billion is the base for future sales growth. Incoming orders in 2022 are assumed to be on a comparable high level as in 2021.
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.
Key Financial Figures at a glance
Change 2022 vs. 2021
Adjusted EBITDA Margin
Adjusted EBIT Margin
*The percentage is calculated based on the values in million.
For more details about the 6M-results 2022 please visit the website.
Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, we serve clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of turnkey solutions with the highest standards in safety and quality to our customers worldwide. We create a better future by enabling key industries to enhance the quality of modern life. In 2021, Exyte generated sales of EUR 4.9 billion with around 7,400 employees worldwide.
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