New orders up 22.1%, rising to €349.1m (previous year: €286m)
Revenue of €238.4m down a slight 2.1% on the previous year’s figure – proportion of service business higher in the first quarter of 2022
Order intake and revenue substantially better than the industry average
Business performance heavily impacted by the pandemic, supply chain bottlenecks and the related increase in the cost of materials and energy
Despite challenging underlying conditions and a slight decline in revenues, improvement of €0.4m in EBIT to €-8.5m (previous year: €-8.9m); EBIT margin -3.6% (previous year: -3.7%)
Savings of around €10m achieved from the P24x efficiency programme in Q1 2022
Free cash flow impacted by changes in net working capital and high order backlog
Increase in order backlog to €917.5m (previous year: €674.5m), providing a solid basis for the rest of 2022
Full-year forecast for 2022 and medium-term targets confirmed