Kendrion - Coping well with challenging market conditions
Kendrion’s Q3 results showed better than expected revenues but also reflected the impact of global supply chain constraints and volatile order patterns on profitability. However, the company has managed to limit the effect of these challenging market conditions to a decline in EBITDA margin of 60bp y-o-y, resulting in a margin of 11.0%. The long-term growth outlook remains intact, with Kendrion benefitting from trends such as electrification and the shift to renewable energy.Kendrion develops, manufactures and markets high-quality electromagnetic systems and components. Co.'s electromagnets are used all over the world in products such as lifts, door locking systems, industrial robots, medical equipment, electrical switchbox systems, diesel engines and airconditioning systems. Co.'s activities are performed in four business units: Industrial Magnetic Systems, Industrial Drive Systems, Passenger Car Systems and Commercial Vehicle Systems.
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