[Stockholm, 17 January 2022] – Series production finished strong in December as many customers bypassed traditional year-end shutdowns to meet the market demand, providing the highest December on record. December production amounted to 3.0 million Engine Equivalents; 25% higher than the December 2020 volume and 20% higher than the pre-Covid high of 2.5 million Engine Equivalents set in December 2019. Series production for the fourth quarter finished at 3.1 million Engine Equivalents, corresponding to a 19% increase over the fourth quarter of 2020 and equalling the previous record for a fourth quarter, set in 2019. Overall, series production for the full-year finished at 3.1 million Engine Equivalents, corresponding to an increase of 24% compared to 2020 while falling 6% short of the full-year pre-Covid volume of 3.3 million Engine Equivalents set in 2019.
Installation activity also finished strong, with two new installations and two functionality upgrades commissioned during December. Lead by the installation of a System 4000 process control system at the new Impro Industries foundry in Mexico and a Ladle Tracker system at the Hyundai foundry in Korea, installation revenue was boosted from SEK 1.7 million at the half-year point to finish at SEK 8.5 million, surpassing the ten-year historical average of SEK 8.3 million. Together, the series production and the installation activities resulted in full-year revenue of SEK 107.4 million, providing an increase of 13% over 2020.
“Industry analysts generally agree that the semiconductor shortages affected global vehicle production by approximately 10% during 2021. We also estimate that our production volume was impacted by approximately 10%” said Dr Steve Dawson, President & CEO. “With continuing improvements in supply chains and the start of production of new commercial vehicle programmes at Scania in Sweden and at First Automobile Works in China during 2022, we look forward to double-digit growth ahead, providing the opportunity to break the four million milestone in 2022 and the ambition to reach the five million milestone in 2024.”
For more information:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +44 771 002 6342
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr Steve Dawson, at 08:45 CET on 17 January 2022.
SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 55 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
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