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Financial indicators

In thousand € 2017 2018 2019 2020 2021
Shareholders’ equity 262 671 131 144 103 232 102 997 105 780
Cash flow 96 254 114 625 67 073 182 099 219 686
Order entries 1 123 056 1 171 521 1 154 278 918 255 951 338
Turnover 933 665 1 296 897 1 259 699 1 014 254 947 461
EBITDa 84 151 107 783 81 413 54 141 54 113
The figures presented are those of John Cockerill SA and its subsidiaries. Given the percentage of the stake held (directly or indirectly) in each of the subsidiaries included in the scope of consolidation, the majority of the companies are consolidated by the global integration method. This data is published in accordance with the International Financial Reporting Standards (IFRS). The application of these standards guarantees a consistent consolidation of the accounts of the John Cockerill Group across its entire scope. It also allows the readability and international understanding of its performance. All the financial data is available in the John Cockerill Financial Report.

For the second consecutive year, our financial results have been impacted by the global economic disruption caused by the Covid-19 health crisis.

At first sight, the 2021 results are close to those of 2020. In fact, they reflect a totally different reality: the first half of 2021 was even calmer than the previous year but by contrast the second half saw a clear recovery, particularly in terms of new orders, which ended the year slightly up compared to 2020. This positive trend is also confirmed at the beginning of the 2022 financial year.

As a result of the drop in new orders in 2020, our 2021 turnover is down, and has fallen below the symbolic bar of one billion Euros. After this low point, it will rise sharply again from 2022 onwards, thanks to the orders taken in the second half of 2021 and the very large orders already taken in 2022.

With regard to our 2021 EBITDA of 54.1 million Euros and our 2021 equity at 105.7 million Euros, these are very close to the previous year.

In terms of cashflow, it should also be noted that, at the end of 2021, we ended the year with largely positive cashflow which will also be the case at the end of 2022.

An analysis of the development of the distribution of our turnover by sector shows a re-balancing of our activities in recent years: after having experienced a cycle of high growth over several years, the Defense sector has seen its weight reduced, to the benefit of other sectors, in both absolute figures and in relative shares. Conversely, the development of Services activities, particularly in Africa, weighs significantly on our results. At the same time, the ramping up of all our activities related to the decarbonization of energy and mobility, as well as those related to the overall reduction of the environmental footprint of industries, is increasingly auguring well for fast and durable growth.

Shareholders’ equity
105 780 thousands of euros

Cash flow
219 686 thousands of euros

Order entries
951 338 thousands of euros

947 461 thousands of euros

54 113 thousands of euros

Non-financial indicators

The roadmap structuring the Group’s ESG initiative is being developed. The priority areas and the commitments were defined in 2021. The indicators to be monitored and their objectives are currently being formalized, as is the methodology for collecting and compiling relevant data at Group level. Here are the first available non-financial indicators. At this stage, not all of them cover the overall scope of the Group. Their scope is specified in each section. Note that some data is still being collected.


Scope: Seraing site (Belgium) 2019 2020 2021
Workforce as of December 31 (in number of people) 798 781 709
Carbon footprint (in tons of CO2 equivalent) 17 000 11 000 in progress
Industrial waste (in tons) 358.19 178.28 in progress
Total energy purchases (in MWh equivalent for gas and electricity) 7 189.96 6 196.93 in progress
Production of photovoltaic panels (in MWh) 1 460 1 500 1 629
Distance traveled by bicycle on the home/work journey (in km) unmeasured unmeasured 9 000
First launched at its Seraing headquarters in 2021,the methodology established by the Group for measuring the carbon footprint of its sites will be extended over time to all of its entities. Read the chapter ‘Reducing our own environmental footprint‘.


2019 2020 2021
Attendance rate of the Ethics Committee 88% 80% 86%
Attendance rate of the Board of Directors 95.4% 95% 95.4%
Attendance rate of the Audit Committee 94% 100% 94%
In 2021, the Group’s governance was adjusted to the new positioning of the Group, and participation in its main governance bodies has been assiduous. Read the chapter ‘Governance‘.


Scope: Group 2019 2020 2021
Workforce as of December 31 (in number of people) 5 741 5 176 5 480
Rate of participation in the biennial internal opinion survey 82% NA 78%
Rate of sustainable engagement of employees 79% NA 79%
Frequency rate of work accidents with halt to work (FR)* 2.28 2.03 2.75
Severity rate of work accidents with halt to work (SR)* 0.09 0.072 0.064
Attrition rate* 4.9% 3.9% 5.8%
Scope: Belgium
Annual average number of training days recorded per employee** unmeasured unmeasured 3.75
* FR : Number of accidents X 1 000 000 / hours worked
* SR : Number of days lost X 1 000 / hours worked
* Attrition rate : Number of people who left on a voluntary basis / Average workforce during the period
** Scope: Belgium, employee central

Diversity indicators 2019 2020 2021
Proportion of women / men (in %)* 13 / 87 13 / 87 13 / 87
Nationalities (number) 48 50 60
Average age** (in years) 42 43 43
*All staff excluding employees in Brazil, India, China and the United States
** All staff excluding employees in Brazil, India, China and New Caledonia
As an employer, John Cockerill continued to pay particular attention to its employees in 2021, whether in terms of their health, their safety, their quality of life at work or, more generally, their development. Read the chapter ‘ Improving the experience of our employees ‘.
Scope: Group 2019 2020 2021
Number of solidarity actions supported by the John Cockerill Foundation 13 20 22
Number of people who have benefited from an action by the John Cockerill Foundation 348 24 832* 4 488
Number of Group employees involved in Foundation actions 284 89 607
In 2021, the John Cockerill Foundation took stock of its mission and mobilized a growing number of employees to participate in its increasingly focused and numerous projects. Read the chapter ‘Making the life of the Community more dignified‘.
*Number strongly impacted by donations of sanitary materials (gel, masks…) to fight against Covid-19.
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