Accelleron well on track

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Trading Update

Accelleron well on track

• Revenue growth to exceed previously guided rate and now expected to reach +8% (in constant currency) year on year in 2022
• Operational EBITA margin to be at the upper end of guidance at 24.5%
• Continuous positive momentum in key markets despite ongoing macroeconomic uncertainties

BADEN, SWITZERLAND, NOVEMBER 14, 2022

Accelleron, a global leader in heavy-duty turbocharging, reports a continuous positive momentum in the markets it serves. This has translated into a further growth of the service business in all relevant markets backed by a growing number of service agreements signed and Tekomar XPERT licenses sold.

Ongoing expansion was also recorded in the product business, despite macroeconomic uncertainties and supply chain challenges. A rise in the global demand for liquified Natural Gas (LNG) contributed to increased investments in the North American gas pipeline infrastructure, supported by a strong demand for turbochargers in gas compression. A growing demand for small power plants and backup power sources, e.g., for datacenters also contributed to the higher number of installations.

Within the shipbuilding industry, also supported by the high demand for LNG carriers, newbuild contracting until end of September 2022 remained well above current shipyard capacities, despite lower levels than in 2021. The continued increase in shipyard orders and expected high-capacity utilization over the next three years provides Accelleron with a good visibility for ship deliveries to translate into future turbocharger orders.

Overall, the developments resulted in an updated guidance regarding organic revenue growth in 2022 from +6% to +8% year on year (in constant currency). At the same time, with a strong focus on mitigating supply chain issues and related cost risks, Accelleron expects to achieve an operational EBITA margin of 24.5% which is at the upper end of the guidance released in August 2022.

With its first trading update as an independent stock listed company, Accelleron provides clear confirmation of the guidance for 2022, including that relating to our dividend, while outperforming in some areas, commented Daniel Bischofberger, Chief Executive Officer of Accelleron. We expect macroeconomic volatility to remain high in the short-term but are confident that we will continue to see strong end-markets, and remain committed to seizing new opportunities through our highly resilient service business. I am fully confident that we will enter 2023 with positive momentum.

_______________________________________________________________________________________

Accelleron is a global leader in turbocharging technologies and optimization solutions for 0.5 to 80+ MW engines, helping to provide sustainable, efficient and reliable power to the marine, energy, rail, and off-highway sectors. Through its innovative product offerings and research leadership, the company accelerates the decarbonization of the industries it operates in. Accelleron has an installed base of approximately 180,000 turbochargers and a network of more than 100 service stations across 50 countries worldwide (www.accelleron-industries.com).

Media information

Images and other digital assets are available at www.accelleron-industries.com

Accelleron sharesThe registered shares of Accelleron Industries AG are listed on SIX Swiss Exchange, Zurich under ticker symbol "ACLN" (ISIN: CH1169360919 / Swiss security number: 116936091).

Accelleron Contacts:

Media contact:      
Martin Regnet
Head of External Communications and Public Affairs 
media@accelleron-industries.com
Phone: +41 79 627 63 88 
Investor contact:     
Michael Daiber
Vice President Strategy & Investor Relations
investor.relations@accelleron-industries.com
Phone: +41 79 698 6085

Alternative Performance Measures:

In this press release, we use certain non-U.S. GAAP financial measures and alternative performance measures that are not required by, or presented in accordance with, U.S. GAAP. Accelleron presents non-U.S. GAAP financial measures and alternative performance measures because they are used by management in monitoring the business and because Accelleron believes that these non-U.S. GAAP financial measures and similar measures are frequently used by securities analysts, investors and other interested parties in evaluating companies in its industry. This provides better transparency and year on year comparability. A list of the definitions of the non-U.S. GAAP financial measures and alternative performance measures as used by Accelleron in general and in this press release can be found on https://accelleron-industries.com/investors/performance-measures.

Disclaimer

This ad hoc announcement includes forward-looking information and statements, including statements concerning the outlook for Accellerons businesses. These statements are based on current expectations, estimates and projections about the factors that may affect the companys future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for Accelleron. There are numerous risks, uncertainties and other factors, many of which are beyond Accellerons control, that could cause the companys actual results to differ materially from the forward-looking information and statements made in this announcement and which could affect the companys ability to achieve its stated targets. Although Accelleron believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.