- Hiperbaric’s new Strategic Plan 2023-2027 is based on the growth of the hydrogen business and the company’s positioning as a world leader in high-pressure technology.
- The recent changes in the company’s shareholder structure guarantee its financial stability and capacity for growth.
- The company aims to lead the opportunities opening up in the high-pressure compression of green hydrogen in Spain and abroad.
- In 2022 the company had a record turnover of €62 million with EBITDA of €20 million, 30% higher than in 2021.
Hiperbaric, a leading Spanish company in the development of high-pressure industrial equipment expects to multiply by 2.5 times its turnover in 2027 to 158 million euros, according to its new Strategic Plan 2023-2027.
The company bases these forecasts on promoting the green hydrogen business for the decarbonization of Spanish and European industry, and the commitment and support of its new shareholding structure, which guarantees its financial stability.
The strategic plan for the next five years establishes maintaining the world leadership of the High Pressure Processing (HPP) business line for the food industry, which currently holds more than 60% of the international market share and accounts for 90% of its current turnover. By 2027, Hiperbaric estimates that 45% of its total turnover will come from green hydrogen compression technology, 55% will come from High Pressure Processing HPP technology, and 5% of the turnover will come from its third business line: Hot Isostatic Pressing (HIP) technology.
The Burgos-based company aspires to lead the opportunities that are opening up in the field of high-pressure green hydrogen compression inside and outside our borders and that, according to a study by the research agency Transparency Market Research, will go from having a current market of 2,100 million euros to 133,580 million euros in 2031.
The roadmap of the company from Burgos is also based on the support and commitment of its renewed shareholding structure which, at the end of 2022, involved the incorporation of the company “INNVIERTE Economía Sostenible SICC SME S.A.”, whose sole shareholder is the Center for Technological Development and Innovation (CDTI), of the Ministry of Science and Innovation; the permanence of Alantra and the entry of new shareholders, considering it as a strategic Spanish industrial technology company. Hiperbaric’s founding and management team became the company’s main shareholders, with a 55% stake in the capital. The new shareholding is 100% Spanish, and the entry of new partners has been a recognition of its innovative trajectory and consolidated leadership in its sector. “Our strategic objective for 2027 is to become European leaders in high-pressure hydrogen compression technology,” says Andrés Hernando, CEO of Hiperbaric, noting that “projects such as the BarMar subway green hydrogen corridor between Barcelona and Marseille, on which the governments of Spain, France, and Portugal are working, augur a promising future for this technology“.
The company’s new strategic plan also establishes the development of a new business unit, HPP Automation System, for the design, manufacture, and supply of customized, flexible, and personalized solutions and automation for all types of food industries working with high-pressure technology. The company also plans to boost market penetration of hot isostatic pressing or HIP (Hot Isostatic Pressing) technology to meet the challenges of metal and ceramic additive manufacturing and to further develop sustainability and digitalization as two strategic aspects within the framework of its Sustainability Master Plan 2022-2023.
Revenue record in 2022
Regarding the 2022 financial year, Hiperbaric achieved a record turnover of 63.1 million euros, 16.5% more than that achieved in 2021 when it had a turnover of 53.3 million euros. “In a scenario of real and tangible uncertainty, and with many supply problems, we have continued to grow because of the commitment we have made to innovation,” Hernando explains. In addition, the CEO of Hiperbaric adds, that the company is strengthening its global leadership as a leader in high-pressure technology for food and beverages, and “we continue to advance and research in the manufacture of green hydrogen compressors from renewable energies to also reach the position of global leadership because we understand that the future goes through this energy vector,” he adds.
As for the development of the company’s consolidated sales in the last five years, Hiperbaric has increased its turnover by 24% from the 50 million achieved in 2018 to the 63 million estimated for 2022. For its part, the company from Burgos closed 2022 with an EBITDA of €21.1 million, 30% higher than that achieved in 2021.
International business and investment in R&D and Innovation
In terms of markets, the majority of the business is international, representing 90% of sales in 2022, compared to 10% in the domestic market. More than half of the 635 industrial HPP (High Pressure Processing) machines installed in the world have been manufactured by Hiperbaric, which represents 60% of the market share. In Spain, eight out of every 10 machines installed are from the Burgos-based company. The company from Burgos invests more than 5% of its turnover in R+D+i.
Among the companies that in 2022 have relied on HIPERBARIC HPP technology are companies such as the Spanish Gufresco, the Greek Ifantis /Esti Foods, the French HPP Atlantique or the Colombian Ventolini. The national companies that have opted for hydrogen compressors manufactured by Hiperbaric from 2021 are Enagás and Iberdrola, as well as the German Framatome or the French Lhyfe.