Teknia reports turnover of 385 million euros in 2022 and exceeds pre-pandemic levels
- Sales are the highest in the company’s history, with growth of 19%, almost double compared to the markets in which the company is present (11%).
- EBITDA reached 40.5 million euros, 23% more than the previous year, and profitability continues to improve to 10.5%.
- The company continues with its objective of reducing its debt and further improved its leverage to x1.80 and increases investments to 3.6% of sales.
Elorrio, 27 April 2023 – Teknia, the Spanish multinational specialised in the manufacture of metal and plastic components for mobility, has recorded turnover of €385 million in 2022, an increase of 19% compared to the previous year and the company achieves the highest sales in its history which confirms the full recovery of the pre-pandemic trend of positive growth, when it recorded revenues of €378 million. In addition, Teknia closed 2022 with a net result of 16 million euros, up 50% yoy when it recorded a net result of 10.7 million euros.
This turnover increase is due to the launch of new projects dedicated to electrification, as well as the partial recovery of the market, among other things. The Group’s sales growth is almost double compared to the markets in which the company operates, where manufacturing volumes increased by 11% in the same period, according to S&P Global Mobility data.
Profitability increase and debt containment
EBITDA also reached a record €40.5 million in 2022, 23% higher than in 2021, while EBIT was €23.2 million, up 41% yoy. This has been achieved despite rising energy and raw material prices, of which the company has managed to pass on slightly more than half of these increases during the year.
As a result, profitability has continued to increase to 10.5%, enabling Teknia to further improve its pre- pandemic levels. This performance was achieved thanks to the Group’s focus on efficient management and cost and investments containment. All this has been achieved while maintaining and creating jobs throughout the year, with a workforce that stood at around 3,500 employees at the end of 2022, 8% more than 2021.
In terms of debt levels, the company continued with its objective of reducing its debt and further improved its leverage to x1.80 at year-end, compared to x2.34 in 2021. Thus, debt levels remain at around 105 million euros. Teknia’s cash has increased significantly from €19 million in 2021 to €32 million in 2022, an increase of 68%.
In 2022, Teknia has continued with its strategy of inorganic growth and has acquired a plant in Germany, specialised in the manufacture of metal suspension components for mobility. This is its first acquisition in the country and reinforces the Group’s strategy to focus on specialised technologies with high added value.
Javier Quesada de Luis, Teknia Managing Director, stated that “in a challenging market environment, Teknia maintains its growth trend and demonstrates the strength of its business model. We have managed to pass on the cost increases we have experienced with some success thanks to efficient management by the whole team and, of course, the determination of all the Group. This has enabled us to achieve our best sales figures in our history. This is the path we want to follow, always keeping in mind the Group’s long-term strategy while maintaining a firm step towards management control, financial planning and the strive for excellence in all areas of the company”.
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