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14
Hamon Annual Report 2012
New order bookings per industry,
in EUR million.
Breakdown of turnover per business unit,
in EUR million.
500
500
400
19%
17%
1%
15%
400
7%
15%
300
200
17%
28% 21%
63% 54%
64%
300
200
13%
15%
18%
14%
13% 15%
21% 18%
18%
16%
100
100
37% 36%
44%
0
2010
2011 2012
0
2010
2011 2012
Other industries
Incineration
Oil and Gas
Power plants
Chimneys
Process Heat Exchangers
Air Pollution Control and Heat Recovery NAFTA
Air Pollution Control EMEA / Brazil
Cooling systems
Evolution of Our Markets
Overall, our markets experienced weak growth in
the developed countries, and practically zero growth
in Europe. Growth comes increasingly from
emerging Asian countries such as China, India
and the Middle East.
Major Markets for Hamon
The major end users of Hamon equipment are producers
of electricity, followed by the oil and gas industries,
as shown in the graph above. These are followed by
other heavy industries, such as steel, non-ferrous metals,
waste incineration, cement and chemicals.
For a breakdown of distribution by geographical area,
see the previous section on the Group profile. We find
that an increasing number of orders are coming from
Asia and other emerging countries (more than half of
new orders).
It is worth noting that new orders are divided between
new installations and aftermarket service.
Hamon’s main activities are cooling systems and air
pollution control, as shown in the graph above.
Ever fluctuating and unpredictable markets in 2012
At the level of global economic developments, we see
that growth has slowed in 2012 (a little more than 2%
against a little more than 2,5% in 2011). This slowdown
was particularly marked in Europe (zero growth in 2012).
Growth remained at about 2% in North America, while it
has slowed (while remaining at a high level) in Asia, at
around 6%. In China, this growth was about 7,8% and
about 5,8% in India. As in previous years, the emerging
economies remain the locomotives of the global economy.
Regarding our markets, we find that difficulties in
financing investment projects (construction or renovation
of power plants, refineries… ) persist mainly in Europe
and the United States. This has resulted in delays in
some decision making regarding these investments,
as well as uncertainties at the macroeconomic level.
If we look at the major engineering groups, we see that
their order intake levels in 2012 are generally quite
comparable to those of 2011 with relatively large
fluctuations from quarter to quarter (no clear trend).
Backlogs seem to be progressing, but the pressure on
prices and margins is still very present.