Beleggers Belangen: "China offers us enormous growth opportunities"
June 26, 2023 at 04:46 am EDT
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June 26, 2023
Beleggers Belangen: "China offers us enormous growth opportunities"
In an interview with Beleggers Belangen, CEO Joep van Beurden expresses his enthusiasm for the new factory in China, highlighting the positive impact it will have on strengthening Kendrion's position in the region. The company has shifted its focus to energy-clean applications, with wind turbines, electric vehicles, and robotics already contributing to 65% of their total turnover.
"We want to continue growing in China because we are performing exceptionally well there. Currently, we have a turnover of approximately EUR 50 million, and we anticipate doubling that figure within the next three to four years with the establishment of this new factory, which is the largest among all Kendrion production sites," says Van Beurden. He also emphasizes the significance of modular production and the opportunities provided by the Chinese market, thanks to the government's five-year plans.
While Kendrion holds leading market positions with strong pricing power on the Industrial side, they have encountered challenges in the Automotive sector due to the presence of major manufacturers. Beleggers Belangen notes in a box accompanying the article that Kendrion does not have any financial concerns, and there is room for further growth and debt reduction. Additionally, Teslin and Kempen, two major shareholders, have recently increased their interests in Kendrion, a development Van Beurden views as a vote of confidence in the company's strategy.
By PETER SCHUTTE
Read the full article on Beleggers Belangen (for subscribers, login required, in Dutch only)
Kendrion NV published this content on 26 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 June 2023 08:45:02 UTC.
Kendrion N.V. specializes in the design, manufacturing and marketing of intelligent actuators that help advance the global push towards automation, electrification and cleaner forms of energy in a wide range of industrial and automotive applications. These actuators can be found in wind power turbines, robots, warehouse automation, electric vehicles, energy distribution and industrial heating processes. Net sales break down by business segment as follows:
- Automotive (50.5%): electromagnetic systems and components for passenger cars and commercial vehicles;
- Industrial (49.5%): industrial actuators and controls (solutions based on electromagnetic actuators, control technology and fluid technology) and industrial brakes (electromagnetic brakes for electromotors).
Net sales are distributed geographically as follows: Netherlands (2.9%), Germany (59.7%), Europe (18.7%), Americas (10%) and Asia (8.7%).
KENDRION N.V. 
