• Significantly more stable development in service business and digitalization orders – growth strategy confirmed
• Pooling of decarbonization competences from SMS and Paul Wurth
• Planned reduction of personnel costs by approximately another EUR 100 million to secure the future of German sites
• Outlook: signs of growing market recovery in 2021; significant rise in order intake in the first half of the year
SMS group particularly felt the impact of the coronavirus pandemic in its business with new plants. In the 2020 business year, order intake fell by around 40 percent compared to the previous year to EUR 1,885 million. The service business, which is included in this figure, proved considerably more stable, decreasing by only 10 percent to EUR 665 million. The order backlog declined to EUR 3,028 million. This means that orders remain at a high level, though they no longer ensure full capacity utilization in all product areas. At EUR 2,745 million, sales were 6.5 percent down on the previous year.