Annual Integrated Report 2022
Full focus on the energy transition

Preface of the CEO
Full focus on the energy transition
Looking back, 2022 was another challenging year. Russia’s invasion of Ukraine compounded the difficulties caused by the COVID pandemic that dominated 2020 and 2021. Yet while supply chain volatility, soaring energy costs and inflation continued to affect businesses around the world, we nonetheless delivered strong results. I am proud of our performance, and of the progress we have made towards our ambitious financial targets for 2025. We are only at the beginning of the broad energy transition to cleaner forms of energy, and Kendrion is well positioned to make full use of the opportunities this presents to our Business Groups and in China.
Strategy and financial objectives
Average organic growth
TARGET 2019-2025
5%
ACTUAL
8%
Return on Investment1, 2
TARGET 2025
25%
ACTUAL
16%
EBITDA margin2
TARGET 2025
15%
ACTUAL
11%
Divident pay-out
TARGET
35-50%
ACTUAL
50%
- Invested capital excluding intangibles arising from acquisitions.
- Non-IFRS financial measure. For the definition and reconciliation of the most directly comparable IFRS measures, refer to reconciliation of non-IFRS information, starting here.
Key figures
- Non-IFRS financial measure. For the definition and reconciliation of the most directly comparable IFRS measure, refer to reconciliation of non-IFRS information, starting here.
- Invested capital excluding intangibles arising from acquisitions.
- Not meaningful.
Products and potential in the energy transition
Kendrion focuses on sustainable growth, by developing intelligent actuators that help drive the global transition towards electrification and other forms of clean energy. Whether for wind power, autonomous vehicles, factory process efficiencies, or optimized industrial heating processes, our smart, compact, and connected actuators are helping our OEM customers to migrate to safe and clean forms of energy.
2019-2023 target framework
Please refer to the section ‘About the sustainability report’ here of this Annual Integrated Report for reporting periods, definitions, scope and limited assurance review.
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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 above.
In case of discrepancies or ambiguities between this website/PDF version and the ESEF reporting package, the latter prevails.