The 2021 financial year shows a very respectable economic performance, in a global economic context that had been shaken by the Covid-19 pandemic: revenue close to one billion Euros (947.5 million) and operating profit (EBITDA) of 54.1 million Euros. These good results for 2021 stem from the strategic choices made in 2017. In that year, we decided to develop our technology portfolio to better align it with the changing needs of our time. What we have implemented in 2021 confirms that it is now possible to reconcile economic sustainability with our ambitions for a decarbonized and more secure future.
Technologies dedicated to low-carbon energies occupy a prominent place among the major advances of 2021. With regard to green hydrogen, we are confirming our position as the world leader in the manufacture of large-capacity electrolyzers, with a 33% share of the world market. We have also launched the construction of a gigafactory in France, to serve the European market. Another factory will follow in India, in partnership with Greenko, the Indian leader in renewable energies. We have outstanding prospects in the renewable energy markets. Focused on green hydrogen, solar and integrated solutions, they should represent a quarter of our turnover by 2025.
The more traditional activities of John Cockerill have not been left behind: after a very quiet start to the year, significant orders have been received, for heat or surface treatment lines, steel-making lines, recovery boilers or specific equipment. The advanced design of these industrial facilities now includes the optimization of their overall environmental footprint, whether in terms of their energy efficiency, their CO2 emissions, or the treatment of their liquid, solid or gaseous effluents.
Processes dedicated to wastewater treatment and waste recovery are also on the rise, with the development of new applications. Following Medix® dedicated to the treatment of hospital effluents, we launched BeFlow® dedicated to the 100% biological purification of water.
In Africa, we have made great strides in the Ivory Coast this year, where we are taking charge of vast infrastructure projects: motorway interchanges, bridges, drinking water supply, water treatment plants, etc.
In the Defense field, our teams delivered the last turret-gun system of the AB contract in 2021. The training and maintenance element of the AB contract came into force with, in particular, services on the Commercy (France) site which are progressing to the entire satisfaction of the clients. The flawless execution of this major program is a technological, logistical, human and financial success. And in addition, our technological offering is ever more diversified: the Cockerill® i-X light rapid interception vehicle, the Tank Boat®, the Agueris® weapons systems simulators and Fortress® technologies for protecting sensitive sites and areas.
Bernard Serin, Chairman et Jean-Luc Maurange, Managing Director
Re-inventing ourselves in order to perform, innovate and play our part
Innovation occupies a special place in the John Cockerill DNA. In 2021, 60% of our innovation projects were focused on reducing the carbon footprint of industries, through the storage of CO2, its transformation into synthetic fuel and, of course, the reduction of CO2 emissions. The contribution of our experts is also decisive in research partnerships such as Siderwin, dedicated to the production of zero carbon steel, HECO2 which is dedicated to de-fossilization and carbon capture and Columbus which aims to decarbonize the production of lime. Our spirit of innovation is also exemplified by Industrya, our investment funds which has concluded its first investments in three technological start-ups.
By reinventing itself, John Cockerill is also setting out to further increase its contribution to society, another cornerstone of its DNA. In 2021, we structured our ESG approach and measured our first non-financial indicators. Beyond the positive environmental impact of our business solutions, we have also shored up our work in the Community, whether through the John Cockerill Foundation or through the CSR team in India.
To secure our future, it is first and foremost necessary to have committed talents within our ranks. We intensified our training programs in 2021, particularly with regard to leadership, and expanded our operational teams by bringing in diversified profiles. We have gauged the attractiveness of the Group through our ability to attract experienced managers, as well as through the sustainable commitment level of our employees, which was measured at 79% in our bi-annual opinion survey.
The year 2021 also enabled us to strengthen our financial situation with in particular a return to a comfortable level of available cashflow, an essential condition for continuing our developments and increasing our impact. We are entering 2022 with a technological portfolio that is perfectly suited to the needs of the post-Covid world and with a sustained level of order intake. Our outlook is positive, as is our desire to contribute to a safer and decarbonized future. Twenty years after regaining its autonomy, our Group is poised to write a new page in its history, and to assert itself as one undisputed champion in the decarbonization of energy, in industry and mobility, while strengthening the security of states and sensitive sites.
Bernard Serin, Chairman
Jean-Luc Maurange, Managing Director
