Camlin Group Delivers Strong Growth Year-on-Year Despite Global Economic Uncertainty

Group, 9th August 2023

Today we are really pleased to announced that the Camlin Group has posted revenues for 2022 of £57.5m – marking an increase of over 50%. More good news the is that the Group’s underlying profitability has also improved and there has been significant year-on-year top line growth, despite persistent global uncertainty and supply chain disruption.

We have steadily proceeded to develop and deploy our product and service portfolio, while continuing to invest in R&D to support future delivery and respond to the market environment. Before the end of 2022, the Group had built a significant backlog of projects for delivery in 2023, to the value of approximately £45m, which underpins a 2023 revenue estimate of over £80m. Additionally, the Group is on track to reach its target of securing a £60m backlog by the end of December 2023, supporting its profitability targets into 2024.

The foundations for the Group’s revenue estimates continue to be rooted in its five-year strategic focus on supporting its customers in delivering net zero and growing investment in the development of a robust and flexible electricity grid network. As part of Camlin’s five-year strategy, the company is continuing to look to invest in innovation and state-of-the-art technologies to solve industry-wide issues and support the UK and US in meeting their net-zero emissions targets.

Our Chief Executive, Peter Cunningham commented:

“While managing ongoing global disruption, we have remained focused on customers’ evolving needs and working closely with our suppliers to develop a strong backlog for delivery in Q4 2023 and well into 2024. Camlin has an important role to play as an enabler of the UK’s green energy transition, working to deliver software and data services which enhance the Grid’s flexibility and robustness as more renewable energy comes online. We are optimistic about building on this year’s progress within both the Energy and Rail infrastructure segments to deliver further profit growth in 2024.”

Who we are -

Our goal is to optimise the critical infrastructures that people, cities and communities around the world depend on, all day and every day. As these networks get bigger and more complex, they are becoming exponentially harder to manage. That’s why we’re here - to make the world’s energy and transport infrastructures run smarter and more efficiently, ultimately helping our customers keep the lights on and keep passengers moving.

Our smart solutions for electricity network faults and load management, monitoring and asset management enables electricity networks to run more smoothly, safely and sustainably. With innovative solutions for railway operators to keep trains running in peak condition, we enable reduced service interruptions and for staff to work more safely.

Camlin has been engineering smart answers to tough problems for a quarter of a century. The company includes research, engineering, manufacturing and customer support facilities in 21 centres across 17 countries. It employs around 600 people with its headquarters based in Lisburn, Northern Ireland.

As an indigenous Northern Ireland business with a global presence in optimising energy networks and performance, we have been posing critical questions around our role in driving the changes needed for the region to deliver this strategy. We want to continue developing its role in championing innovative technologies, creating a smarter grid both for the future Northern Ireland, and wider global economies, as well as mobilising the skills, technologies and behaviours to make the Northern Ireland region a low carbon innovation hub, exporting worldwide and creating thousands of new jobs for the region.

If you would like to discuss anything further about this article please feel free to get in touch.