Press Release. Accelleron, a global leader in heavy-duty turbocharging, reports a continuous positive momentum in the markets it serves. This has translated into a further growth of the service business in all relevant markets backed by a growing number of service agreements signed and Tekomar XPERT licenses sold.
Ongoing expansion was also recorded in the product business, despite macroeconomic uncertainties and supply chain challenges. A rise in the global demand for liquified natural gas (LNG) contributed to increased investments in the North American gas pipeline infrastructure, supported by a strong demand for turbochargers in gas compression. A growing demand for small power plants and backup power sources, e.g., for datacenters also contributed to the higher number of installations.
Within the shipbuilding industry, also supported by the high demand for LNG carriers, newbuild contracting until end of September 2022 remained well above current shipyard capacities, despite lower levels than in 2021. The continued increase in shipyard orders and expected high-capacity utilization over the next three years provides Accelleron with a good visibility for ship deliveries to translate into future turbocharger orders.
Overall, the developments resulted in an updated guidance regarding organic revenue growth in 2022 from +6% to +8% year on year (in constant currency). At the same time, with a strong focus on mitigating supply chain issues and related cost risks, Accelleron expects to achieve an operational EBITA margin of 24.5% which is at the upper end of the guidance released in August 2022.
“With its first trading update as an independent stock listed company, Accelleron provides clear confirmation of the guidance for 2022, including that relating to our dividend, while outperforming in some areas,“ commented Daniel Bischofberger, Chief Executive Officer of Accelleron. “We expect macroeconomic volatility to remain high in the short-term but are confident that we will continue to see strong end-markets, and remain committed to seizing new opportunities through our highly resilient service business. I am fully confident that we will enter 2023 with positive momentum.”