Smooth Sailing

Hernani-headquartered global VT player Orona reports growth despite challenges at annual meeting in San Sebastián. 

submitted by Orona

Hernani, Spain-headquartered Orona, Europe’s fifth-largest player in vertical-transportation (VT) solutions, held its Annual Partners’ Meeting on April 8. During the meeting, held in person in the Velódromo de Anoeta indoor arena in San Sebastián, Spain, partners approved 2021 financial statements and reviewed strategic priorities for addressing the current complex geopolitical context.

Orona by the Numbers: 2021

Revenue increased 4.1% from 2020 to EUR832 million (US$902 million), despite the complexity imparted by the lingering social and economic effects of the pandemic, coupled with supply chain friction that has sent commodity, energy, logistics and chip prices soaring. Against this challenging backdrop, Orona posted EBITDA (earnings before interest, taxes and depreciation) of EUR139 million (US$150.7 million), marking growth from previous years. Capital expenditure amounted to EUR26.6 million (US$28.8 million) in 2021, up 63% from 2020. Orona ended the year with 5,507 employees, marking the fourth consecutive year of headcount growth, despite the crisis.

Aitor Azkarate, Orona managing director, said: 

“Faced by a global environment that is becoming more challenging by the year, we are convinced that it is vital to continue to forge a robust, competitive and socially committed business endeavor. Competitiveness will play a key role, enabled by the commitment of our people and coupled with our strategic commitment to innovation and digital transformation.”

Referring to the entity’s earnings performance, Orona’s top executive described it as “very positive,” since the company “managed to lift [its] revenue and order intake” during an extraordinary year marked by the challenges of the pandemic and supply chain issues in the wake of economic recovery. Azkarate added:  

“Thanks to our group’s ability to adapt, in addition to the dedication of our team, we came through a truly exceptional year all the stronger. With the environment becoming increasingly challenging, the commitment of everyone will be key to tackling the looming challenges.” 

Orona EU 2030: Consolidation of European Footprint

2021 also marked new milestones in Orona’s European consolidation story, having acquired the Elco elevator group Basque cooperative in Spain and Lift Rzeszów in Poland. Orona’s reach now extends to 13 countries, with an end-to-end presence all along the value chain. The new additions fall under the scope of the Orona EU 2030 project, which aims to build revenue to EUR1.3 billion (US$1.4 billion) within that timeframe, providing employment to 7,500 people across the European region. 

Elsewhere, Orona participated in interlift 2022, the largest VT sector trade fair in the world, at Messe Augsburg in Augsburg, Germany, at the end of April. There, it unveiled details of Orona products. Next up is its upcoming product and service suite designed to address all segments of the market.

CSR Efforts

The Annual Partners’ Meeting also provided an opportunity to highlight the cooperative’s corporate social responsibility (CSR) efforts. In July, Orona endorsed the Climate Ambition Accelerator initiative — led by the United Nations Global Compact — pledging to cut its total emissions by half by 2030 and bring its net emissions to Net Zero by 2050. Orona, which has been ratifying the Global Compact’s 10 principles year after year since 2006, is therefore advancing along its roadmap for contributing to delivery of the Sustainable Development Goals (SDGs) laid down in the 2030 Agenda.

As part of its goal of bringing people closer together, Orona sought to share its achievements in two emblematic buildings. The first took place at Amare, the largest educational and cultural complex in the Netherlands, which is equipped with nine next-generation elevators to facilitate accessibility to everyone passing through the building. Located in the heart of The Hague, Amare is popularly known as the home of dance and music. The second building was the head office of Ireland’s national power utility, the Electricity Supply Board (ESB), in Dublin, where Orona installed 10 elevators: a six-lift elevator bank and four elevators for simplex operation, equipped with Easyflow, the traffic management and destination pre-selection system designed by Orona to minimize passenger wait times.

As part of its commitment to social cohesion, the Orona Foundation continues to work to embrace people at risk of exclusion, striving to rekindle their sense of belonging to their local communities and spark connections. Examples of that effort include a donation made to help fund the production of a documentary about the vessel Aita Mari, to tell the story of Salvamento Marítimo Humanitario, the Basque maritime search and rescue operation, and Orona’s support for women’s rugby team Hernani Rugby Elkartea, which welcomes all players irrespective of (birth) gender, age or skills.

At the beginning of 2022, the Foundation received the fifth Baserritarron Laguna Prize awarded by the farming association ENBA for its work to encourage consumers to embrace sustainable and healthy foods.