Honeywell announced the financial results of its Honeywell Building Technologies segment for 4Q and full year 2022, said the company.
Honeywell Building Technologies sales for 4Q 2022 were up 15% on an organic basis year over year with strength in both building products and building solutions. Building products sales increased 21% organically, primarily driven by increased sales of fire products and building management systems.
Project sales grew double digits organically for the third consecutive quarter, leading the growth in building solutions. Segment margin expanded 370 basis points to 24.8% due to commercial excellence, partially offset by cost inflation.
Sales reached USD6000 M in FY 2022, compared to USD5539 M in FY 2021. Segment profit amounted to USD1439 M, compared to USD1238 M. Sales reached USD1514 M in 4Q 2022, compared to USD1404 M in 4Q 2021. Segment profit amounted to USD375 M, compared to USD296 M.
We remind, Turkey’s Sasa Polyester has announced a licensing deal with Honeywell UOP for a 1m tonne/year propylene production plant based on propane dehydrogenation (PDH) technology. The agreement also covered technical service and warranty aspects of the USD1.5bn project to be constructed in the Yumurtalik investment area in Turkey’s southern province of Adana, Sasa added, when filing details of the deal with the Istanbul Stock Exchange. Sasa said that it expected the contribution of the planned investment to its turnover would be USD1.2bn.
mrchub.com