SKAKO A/S : Annual report 2022 (27 MB)

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Accounting period: 1 January - 31 December 2022

SKAKO A/S

CVR: 36440414

Bygmestervej 2

5600 Faaborg

Denmark

Revenue

(DKKm)

437.9

(+20.4%)

Up from 363.7

EBIT

(DKKm)

30.8

(+51.7%)

Up from 20.3

EBIT margin

7.0%

(+1.4pp)

Up from 5.6%

ROIC

16.5%

(+6.2pp)

Up from 10.3%

Orderbacklog

(DKKm)

215.2

(+75.8%)

Up from 122.4

| Annual report 2022

Page 1

CONTENTS

Management review
1. Highlights	. .	. . . . . . . . . . . . . . . . . . . . . . . . .	4
1.1	Letter to our shareholders	. . . . . . . . . . . . . . . . . . . . . . . . . . .	6
1.2	Key events 2022 . . . .	. .	. . . . . . . . . . . . . . . . . . . . . . . . . . .	8
1.3	Financial key figures . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . .	10
1.4	Financial review . . . .	. .	. . . . . . . . . . . . . . . . . . . . . . . . . . .	14
1.5	Financial ambitions . .	. .	. . . . . . . . . . . . . . . . . . . . . . . . . . .	19
1.6	Guidance 2023	. . . . . . . . . . . . . . . . . . . . . . . . . . .	21
1.7	Why invest in SKAKO . . .	. . . . . . . . . . . . . . . . . . . . . . . . . . .	22

2. Business unit Concrete	. . . . . . . . . . . . . . . . . . . . . . . . 23
2.1 Financial performance . . .	. . . . . . . . . . . . . . . . . . . . . . . . . 28
3. Business unit Vibration	. . . . . . . . . . . . . . . . . . . . . . . 31
3.1 Financial performance . . . .	. . . . . . . . . . . . . . . . . . . . . . . . . 35

4. Corporate governance	38
4.1 Company announcements 2022	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 report . . . . . . . . . . . . . . . . . . . . . . . . . 58

5.3 Consolidated financial statements

63

5.4 Consolidated notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70

5.5 Parent company financial statements . . . . . . . . . . . . . . . . . . . 113

5.6 Parent company notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118

| Annual report 2022

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. Due to the war in Ukraine, increased geopolitical tension and high inflation, this guidance is subject to a higher-than-normal degree of uncertainty.

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2022 IN BRIEF	|
	Annual report 2022

SKAKO Concrete	Revenue split by	SKAKO Vibration	Plant orders
(DKK) 204.699	Vibration	237.535(DKK)	(DKK) 264.295
	Concrete &
EBIT margin 5.5%		EBIT margin 10.0%

Revenue split

by plant orders and aftersales

Aftersales

173.624(DKK)

Order intake	Orderbacklog	Revenue	EBIT	EBITmargin	Earningsper share	Employees	ROIC
(DKKm)	(DKKm)	(DKKm)	(DKKm)		(DKK)

530.7	215.2	437.9	30.8	7.0%	8.13	205	16.5%
Up from 394.2	Up from 122.4	Up from 363.7	Up from 20.3	Up from 5.6%	Up from 4.28	Up from 199	Up from 10.3%

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| Annual report 2022

1. HIGHLIGHTS

Page 4

| Annual report 2022

2022 has been a terrific year, and with our historically high order backlog we expect a continued positive development despite the war in Ukraine, energy crisis and high inflation. Especially concrete and recycling are expanding.

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