By Pierre Bertrand
Accelleron Industries has announced an increase in its 2023 revenue growth guidance, citing positive momentum in the marine and energy markets during the first half of the year.
The Swiss manufacturer of engine turbochargers, which recently separated from parent company ABB, now expects organic revenue growth of approximately 13% for the year, up from the previous range of 2% to 4%.
In addition, with the recent acquisition of Officine Meccaniche Torino (OMT) on July 20, the company anticipates overall organic revenue growth of around 15%. Accelleron predicts that OMT will contribute an estimated $20 million to $25 million in additional revenue in the second half of the year.
During the first half of 2023, Accelleron reported a 20% increase in revenue in constant currency. This growth was driven by the merchant marine and gas compression markets, as well as price increases. However, the company acknowledges that these factors may not have the same impact in the second half of the year.
Accelleron has confirmed its operational earnings before interest, taxes, and amortization mid-term margin guidance, with a range of 23%-26%.