FlexLink reports strong sales in 2010
By Canadian Packaging StaffGeneral conveyors FlexLink Report
For Göteborg, Sweden's FlexLink, worldwide leader in the manufacture of conveyance systems, it noticed a gain in momentum in late 2009 that continued throughout 2010 with customers regaining confidence and thus fueling an improved investment climate.
Despite the recent dark clouds of a global recession hanging over the packaging equipment manufacturing industry, there is a bright light appearing overhead signifying better days ahead.
For Göteborg, Sweden’s FlexLink, worldwide leader in the manufacture of conveyance systems, it noticed a gain in momentum in late 2009 that continued throughout 2010 with customers regaining confidence and thus fueling an improved investment climate.
Noted in a recently release year-end company report, in 2010, FlexLink’s sales increased 27 per cent to US $203 million and the earnings to $25 million representing a growth of 32 per cent compared to 2009.
Mattias Perjos, Flexlink chief executive officer notes: “… 2010 was a year of recovery for FlexLink, our customers and our industry. The growth came back strongly in the Americas and Asia Pacific areas throughout the year while EMEA came back on the growth track in the last quarter.
“Our profitability remains on healthy levels and we continue to invest in R&D (research and development) and in our organization to reinforce our market leading position within Production Logistics. Our latest launched products are state of the art, are getting recognition in the market and we will continue to launch new products and solutions in 2011 and onwards.”
- Net sales for the full year were $203 million which is an increase of 27 per cent compared to 2009.
- The order intake amounted to $195 million, an increase of 27 per cent. The order intake growth was particularly strong in Americas and Asia Pacific throughout the year and after a flat development, it strengthened in EMEA in the last quarter.
- Earnings before interest, taxes, depreciation and amortization of intangible assets (EBITDA) were $25 million, which is 31 per cent higher than in the previous year. Adjusted for exceptional costs, the EBITDA was $26 million and the adjusted EBITDA margin 13 per cent.
- Large orders were primarily from the electronics and fast-moving consumer goods (FMCG) segments.
- The partner channel sales developed in line with the market development.
- Sales of the new X45 compact, intelligent conveyor product platform (see photo above), launched in January 2010, grew over the year and enabled FlexLink to enter new application areas.
- In 2010, FlexLink held its 30 year anniversary which was celebrated and recognized within industry, world wide.
FlexLink, which is represented in over 60 countries has a Canadian base of operations–FlexLink Systems Canada Inc.–located in Burlington, Ont. For more information on how FlexLink can provide your company with flexible conveyor system solutions, visit www.flexlink.com.