2022 Annual results

  • FY’22 Net sales of €m 2,362, +26% vs. FY’21 (+23% like for like)
  • Recurring operating income at €m 84.6 (3.6%) vs. €m 123.7 (6.6%) in 2021
  • EBITDA at €m 130 (5.5%) vs. €m 167 (8.9%) in 2021
  • Net income group part at €m 55 vs. €m 87 in 2021
  • Net debt at €m 213, gearing at 27%, leverage at 1.6
  • Dividend payment proposition at €0.63 per share
  • Expected revenue growth in 2023 up around 20% compared to 2022
  • Expected recurring operating income rate in 2023 up around 100 basis points


The year 2022 was marked by strong revenue growth in a context of very dynamic markets and a very deep order book. The tensions on the supply chain and the inflation were very strong. The commitment of the teams enabled us to overcome the supply chain difficulties and to significantly accelerate production. Inflation was immediately reflected in sales prices, but with a time lag effect due to the depth of the order book. This situation caused a significant cyclical squeeze on margins. Recurring operating income amounted to €84.

Michel Denis, President & CEO


Press release

Analysts presentation