SKAKO A/S : Annual report 2021 (20 MB)

ANNUAL

REPORT

SKAKO A/S
	2021
Denmark
CVR: 36440414	Accounting period:
Bygmestervej 2	1 January - 31 December 2021
5600 Faaborg
Conductor:

Solicitor Jan Bruun Jørgensen

Revenue

(DKKm)

363.7

Up from 335.9

EBIT

(DKKm)

20.3

Up from 15.2

EBIT margin

5,6%

Up from 4.5%

ROIC

10.3%

Up from 8.3%

Order backlog

(DKKm)

122.4

Up from 91.9

202 report1 Annual |

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CONTENTS

Annual |

Management review

1. Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

1.1	Letter to our shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . .	6
1.2	Key events 2021 . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
1.3	Financial key figures . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . .	10
1.4	Financial review . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
1.5	Financial ambitions . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . .	18
1.6	Guidance 2022 . . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . . .	20
1.7	Why invest in SKAKO .	. . . . . . . . . . . . . . . . . . . . . . . . . . . .	. 21

2. Business unit Concrete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

2.1 Partners choose SKAKO to improve their sustainability . . . . . . . . .

24

2.2 Financial performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

3. Business unit Vibration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31

3.1 Strategy & business model . . . . . . . . . . . . . . . . . . . . . . . . . . 33

3.2 Financial performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

4. Corporate governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

4.1 Company announcements 2021 . . . . . . . . . . . . . . . . . . . . . . .	40
4.2	Corporate social responsibility . . . . . . . . . . . . . . . . . . . . . . . .	41
4.3 Risk management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	48
4.4	Corporate governance and remuneration report . . . . . . . . . . . . .	50
4.5 Executive management . . . . . . . . . . . . . . . . . . . . . . . . . . . .	51
4.6	Board of directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	52
4.7	Shareholder information . . . . . . . . . . . . . . . . . . . . . . . . . . .	55
5. Financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	56
5.1 Statement by Management . . . . . . . . . . . . . . . . . . . . . . . . . .	57
5.2	Independent auditor's reports. . . . . . . . . . . . . . . . . . . . . . . . .	58
5.3	Consolidated financial statements . . . . . . . . . . . . . . . . . . . . .	63
5.4	Consolidated notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	70
5.5	Parent company financial statements . . . . . . . . . . . . . . . . . . .	117
5.6 Parent company notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . .	122

202 report1

Important notice about this document

This document contains forward-looking statements. Words such as believe, expect, may, will, plan, strategy, prospect, foresee, estimate, project, anticipate, can, intend, outlook, guidance, target and other words and terms of similar meaning in connection with any discussion of future operation of financial performance identify forward-looking statements. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events which may prove incorrect. The Covid-19 pandemic has increased uncertainties in estimates and expectations to the future.

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2021 IN BRIEF

Order intake	Order backlog	Revenue	EBIT	EBIT margin	Earnings per share	Employees	ROIC
(DKKm)	(DKKm)	(DKKm)	(DKKm)		(DKK)
394.2	122.4	363.7	20.3	5.6%	4.28	199	10.3%
Up from 304.1	Up from 91.9	Up from 335.9	Up from 15.2	Up from 4.5%	Up from 3.52	Up from 195	Up from 8.3%

SKAKO Concrete	SKAKO Vibration	Plant orders	Aftersales
(DKK) 165.027	203.246 (DKK)	(DKK) 215.943	147.763 (DKK)
EBIT margin 3.7%	EBIT margin 8.5%

Revenue split by	Revenue split
by plant orders
Concrete & Vibration	and aftersales

202 report1 Annual |

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1. HIGHLIGHTS

202 report1 Annual |

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202 report1 Annual |

In 2021 markets recovered after the Covid-19 downturn. SKAKO has proven to have the ability to navigate in very dynamic conditions and was able to strengthen our performance.

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