Kendrion N.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023
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Kendrion N.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was EUR 124.5 million compared to EUR 132.9 million a year ago. Revenue was EUR 124.5 million compared to EUR 132.9 million a year ago. Net income was EUR 2.4 million compared to EUR 4 million a year ago. Basic earnings per share from continuing operations was EUR 0.16 compared to EUR 0.26 a year ago. Diluted earnings per share from continuing operations was EUR 0.16 compared to EUR 0.26 a year ago.
For the nine months, sales was EUR 398.2 million compared to EUR 389.7 million a year ago. Revenue was EUR 398.2 million compared to EUR 390.2 million a year ago. Net income was EUR 11 million compared to EUR 12.8 million a year ago. Basic earnings per share from continuing operations was EUR 0.73 compared to EUR 0.86 a year ago. Diluted earnings per share from continuing operations was EUR 0.71 compared to EUR 0.86 a year ago.
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. 
