Consolidated financial statement ARVOS Group 2022/23
Luxembourg, July 5, 2022 – Arvos Group has completed the financial year 2022/2023 on March 31, 2023, with revenues of EUR 303 million in its two Divisions LJUNGSTRÖM (LJU) and SCHMIDTSCHE SCHACK (SCS). This marks the second consecutive year of revenue growth after overcoming the pandemic-related delays and customer hesitance in placing orders during times of uncertainties, which significantly impacted the financial year 2020/21 and the first half of the financial year 2021/22. The sales increase in the financial year 2022/23 amounted to +17% in comparison to the previous year.
The order intake in FY 2022/23 reached record-breaking levels, with LJU at 260 m€ and SCS at 179 m€, totaling 438 m€ for the whole Group. This achievement represents the highest order level since the acquisition of ARVOS Group by Triton funds in 2014, indicating remarkable order growth of +52% compared to the previous business year.
The exceptional combination of robust top-line growth (sales) and successful cost optimization efforts resulted in a remarkable +58% increase in EBITDA (IFRS), which includes one special effect from an asset sale. Additionally, the impact of geopolitical turbulences during FY 2022/23 was significant for the Group but was effectively mitigated through additional measures. As a result, the EBITDA adj. margin on sales reached an impressive 17%.
Looking ahead to the current financial year, FY 23/24, Arvos Group anticipates another double-digit sales growth. This positive trend is also expected to be reflected in the earnings, aiming to maintain the good profit margin achieved in FY 2022/23.
About ARVOS Group
ARVOS Group is a leading global industrial equipment and service provider. Across its division LJUNGSTRÖM the ARVOS Group is active in both the new equipment and aftermarket service markets. LJUNGSTRÖM for Air Preheaters and Gas-Gas Heaters primarily used in thermal power generation facilities and new products in Offshore wind and other diversification product areas, SCHMIDTSCHE SCHACK for heat transfer applications in a wide range of petrochemical, chemical and metallurgical processes. This unique combination makes the ARVOS Group to one of the leading experts providing best-in-class heat exchanging solutions as well as advanced lifetime services. Headquartered in Luxembourg, with the German holding company and the corporate offices in Heidelberg, ARVOS Group operates six global manufacturing facilities and has sales execution offices in Australia, China, Czech Republic, Germany, India, Japan, Poland and the USA. The ARVOS Group brands of LJUNGSTRÖM®, SCHMIDT’SCHE ® and SCHACK® are highly recognized for representing outstanding quality and performance. ARVOS Group, owned by funds advised by Triton, has more than 1,000 employees worldwide.