ANNUAL REPORT 2022

We were able to deliver excellent results in 2022, with turnover growing by 18.0% organically and EBITA growing by 23.9%. All segments contributed to these strong results. We are excited to see how the execution of our Accelerate 2025 strategy program is progressing. The drive and passion we see in our operations and amongst our more than 6,600 employees globally to drive results is extremely high.

Our strong high-end technologies and our focus on three important megatrends – automation, digitalization, and electrification – have created a strong foundation for growth. In 2022, we introduced a substantial Strategic Investment Program of € 200 million, of which the main part is geared towards electrification. This will further support our organic growth and provide our customers with the necessary capacity, enabling them to realize their goals. During the year, we continued to prioritize investments to meet our ESG targets and made particularly good progress in reducing our carbon footprint.

A special word for our team in Ukraine, who managed to work under exceptionally difficult circumstances. We have great respect for how they are coping with the challenges in their daily lives.

We like to thank our stakeholders for their trust and cooperation in realizing the results we achieved and the good foundation we have created for the years to come. In particular, we would like to thank our employees for their considerable dedication, passion, and commitment, and for achieving the best possible results in sometimes challenging situations!

On behalf of the Executive Board,

Alexander van der Lof,
Chairman & CEO