Annual Integrated Report 2021

Growing
opportunities

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Preface of the CEO

Standing tall amidst global supply chain disruption
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.
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Strategy and financial objectives

Average
organic
growth

(2019-2025)

5%

16%

Return on
investment1,2

2025

25%

15.6%

EBITDA
margin2

2025

15%

12%

Dividend
pay-out

 

35-50%

50%

1 Invested capital excluding intangibles arising on acquisitions.
2 Normalized for one-off cost, benefits and balance sheet items. The bridge from reported to normalized figures can be found here.

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Key figures

Revenue1

(EUR million)

17%

463.6
2020396.4

EBITA1

(EUR million)

69%

31.9
202018.9

Net profit1,3

(EUR million)

76%

20.6
202011.7

ROI1,2

(in %)

4.8%

15.6%
202010.8%

Total number of employees (FTE)

(at 31 December)

11.1%

2,728
20202,456

Total number of employees by gender

(in % F vs M)

48/52
202050/50

Illness rate 

(in %)

0.3%

4.7%
20204.4%

Accidents

(per 1,000 FTE)

73.6%

9.2
20205.3
1 Normalized for one-off costs and benefits. The bridge from reported to normalized figures can be found here.
2 Invested capital excluding intangibles arising from acquisitions.
3 Before amortization.

Please refer to the section 'About the sustainability report' on these pages of this Annual Integrated Report for reporting periods, definitions, scope and limited assurance review.


Enabling energy transition

Kendrion focuses on 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, supporting factory process efficiencies, or optimizing industrial heating processes, our smart, compact, and connected actuators are helping our customers to migrate to safer and cleaner forms of energy.

Diverse brake portfolio meets the needs of emerging AGV market

Autonomous logistics technologies – from warehouse automation to augmented reality and automated guided vehicles (AGVs) – are revolutionizing how manufacturers move goods, increase efficiency and safety while reducing environmental footprints. While initially developed to increase operational efficiency and safety in warehouse logistics, next-generation AGVs are finding new roles in more sectors, including e-commerce, automotive, agriculture, and semiconductors.

Read more about AGVs

Robotics brakes for intelligent, safe automation in healthcare

In manufacturing processes, robots represent a great opportunity for improving efficiency of existing manufacturing processes. In the medical industry, they have a big impact as they optimize patient comfort and surgeon time. For critical applications such as robot-assisted surgery, the robot’s performance also directly impacts the patient’s safety. Kendrion’s approach gives start-ups and established manufacturers in this sector all they need to design high-precision and (high precision and safe) robots – and get them to market quickly.

Read more about brakes for healthcare

Inductive heating systems help drive greener manufacturing processes

Induction heating is an increasingly popular alternative to gas and oil and Kendrion is keen to help drive this green change. Our brand-new induction system development platform allows us to explore new horizons in this emerging area, with manufacturers of smaller industrial equipment. We can provide them with a more sustainable and efficient alternative for their manufacturing processes, while contributing to a greener economy.


Read more about inductive heating

Sensor cleaning distribution system drives safety in eco-friendly autonomous vehicles

Sensor cleaning distribution system drives safety in eco-friendly autonomous vehicles. Autonomous vehicles are driving the need for advanced sensor cleaning systems with ever-greater urgency. In 2021, we introduced an intelligent sensor cleaning distribution system delivering a single, easy-to-integrate cleaning strategy for vehicles. Comprehensive, compact, and flexible, the system helps OEMs market safe, eco-friendly vehicles quickly and without major R&D efforts.

Read more about sensor cleaning

2019-2023 target framework

natural-capital
social and human capital
responsible business conduct

Please refer to the section 'About the sustainability report' on these pages of this Annual Integrated Report for reporting periods, definitions, scope and limited assurance review.

Please refer to the section 'About the sustainability report' on these pages of this Annual Integrated Report for reporting periods, definitions, scope and limited assurance review.

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