The company said the increase is due to growing demand for decarbonization and recycling technologies as well as timing – orders that were postponed due to the COVID-19 pandemic are now being submitted. 

“SMS expects a sustainable and perceptible increase in incoming orders and a marked improvement in results over the next few years. The order intake in 2022 is expected to level out at the previous year’s figure, even in view of the Russia-Ukraine war,” the company said in a statement. 

It also said it expects that decarbonization and recycling will drive future sales.  

“Almost all industrialized countries have set themselves ambitious climate targets and resolved transformation strategies for their steel industries. Today, integrated steelworks produce around 1.3 billion tons of crude steel per year via the conventional BF-BOF route, accounting for 90% of all CO₂ emissions from the steel industry. In the decades to come, these production capacities will be subject to transformation. As a systems supplier, we are in a position to support our customers comprehensively in every situation,” said SMS group chief executive Burkhard Dahmen.