SMS Group, a leading provider of plant and machinery for the steel and metals industry, has reported significant revenue growth driven by the green transformation of the sector and strong economic activity in India and the USA. Despite global challenges, the company achieved its interim goals in 2022 and made substantial progress in terms of organisational development.
The company’s high order intake, which does not yet include the latest major orders, is particularly noteworthy. Torsten Heising, the Chief Financial Officer of the Group, emphasised the impressive order backlog and the company’s plan to enhance profitability in coming years. He stated that they aim to significantly improve results for the current year, building upon the solid foundation provided by the order backlog.
While the net liquidity for the year was reported as USD 540 million, there was a decline compared to the previous year. This decrease can be attributed to substantial investments made by the company, including the acquisition of the service company Kaefer, the establishment of the new SMS campus in Mönchengladbach, and development of new service workshops in the USA.
Despite the challenges faced globally, SMS Group has showcased its resilience and adaptability. The company’s focus on green steel production aligns with the growing demand for sustainable steel and metal solutions. With a strong order backlog and plans for increased profitability, the Group is well-positioned to leverage market opportunities and continue its growth trajectory.
The achievements of the Group reflect the broader shift towards sustainability in the steel and metals sector. As companies worldwide seek environment-friendly alternatives, the demand for green steel solutions is expected to rise.
