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1101 CN Amsterdam
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Kendrion N.V.
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1101 CN Amsterdam
The Netherlands
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Annual Integrated Report 2021: Growing opportunities

CEO Joep van Beurden: "The business climate in 2021 was tough, but for different reasons than in 2020 when the COVID pandemic first struck. In short, we moved from a crisis of demand to a crisis of supply. Shortages in many of our raw materials such as semiconductors, steel, certain plastics and even labor put serious pressure on our customers, our production flexibility, and our people."

Nevertheless, we can close the year with positive results thanks to the hard work of our entire global team. We look forward with confidence as a financially sound and innovative actuator company with a keen focus on actuators that help enable the global energy transition.

Fostering the broad energy transition
As a global actuator company, all our Business Groups focus on delivering smart actuator products that support the broad energy transition away from oil, natural gas, and coal, towards cleaner forms of energy. Pursuing a leading role in this global transition provides us with a strong proposition today and for the future.

Our industrial brakes are used in applications such as robotics, wind power, intra-logistics solutions (such as AGVs and electric forklift trucks), and more. For instance, our Industrial Actuators and Controls (IAC) Business Group produces modular, electrified induction heating systems that aim to deliver similar benefits on an industrial scale to those you see in home appliances. In Automotive, our smart actuators for ACES (Autonomous, Connected, Electric and Shared) vehicles help enable electrified and autonomous driving.

Impressive results despite unpredictability
In this business environment we delivered good results. I am proud of what we have achieved as a team in these extraordinary and unpredictable circumstances. As a Group, we increased our revenue by 17% to EUR 464 million compared to 2020. Our normalized net profit before amortization increased by 76% to EUR 20.6 million.

Read the complete CEO statement in the Annual Report.
 


Disclaimer: This document is only a “website version” and is not the official annual financial reporting, including the audited financial statements thereto pursuant to article 361 of Book 2 of the Dutch Civil Code. The official annual financial reporting, including the audited financial statements and the auditor’s report thereto, are included in the single ESEF report package which can be found in the zip file below.

In case of discrepancies or ambiguities between this website/PDF version and the ESEF reporting package, the latter prevails.

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