In the third quarter of 2021, Kaltra sales were up 12% versus Q2 on a reported basis. Q3 solid performance drives guidance upgrade to around 27% business growth in 2021.
The heat transfer solution portfolio mainly drove sales growth with a continued strong performance in other business segments. In Q3 2021, MCHE (microchannel heat exchanger) sales increased 19%, reflecting new contracts that became operational over the last months.
Paul Larson, Kaltra’s chief business development officer, commented: “We continue to deliver robust revenue growth also in Q4, up to double-digit against the previous year, reflecting the relevance of our sustainable heat transfer solutions and the high level of demand in our end-markets. We take further steps on our sustainability, making good progress toward our 2021-25 targets while continuing to operate in an increasingly constrained supply chain environment globally, resulting in shortages and increased input and freight costs, which we continue to manage with suppliers and customers”.
Trading year-to-date is in line with Kaltra’s expectations and its guidance for 2021. A significant proportion of expected Q4 2021 and Q1-Q2 2022 revenue relates to the number of heat exchangers due to be shipped in the next quarters.
