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Connector sales growth slows but orders accelerate

Without exception, all ITSA members reported a bumper order intake Q1 2022 and although revenue growth slowed compared to Q4 of 2021 some members saw sales increase in excess of 40 per cent over the same period in 2021. Bookings were also outstanding with members reporting orders up 60 per cent plus. Book-to-bill was 1.22:1. Buoyant markets include medical, security, data centres and telecom.

As reported last quarter all members are now significantly above 2019 (pre pandemic) levels but with this exceptional growth comes supply chain issues. Problems in the global supply chain of raw materials, components and in particular cables means that lead times are increasing with 12-weeks seeming the norm (one member reported an instance of a three-year lead time). Costs are increasing everywhere, on everything and while members have tried to contain this it has resulted in price increases being passed on to customers.

There continues to be high-level investment taking place by members and/or their corporate headquarters including acquisitions and developing new facilities. This follows on from the positive trend of investment that has happened over the past two years despite the pandemic.

itsa.org.uk