1、2022 ANNUAL REPORTTHE FUTURE IS WHAT WE MAKE IT.2022 SHAREHOLDER LETTER FROM DARIUS ADAMCZYKHoneywell proved yet again in 2022 that we do what we say.Regardless of external pressures macroeconomic factors,geopolitical challenges,exchange rates,and more we continue to leverage our rigorous operating
2、system and generate value for our customers,and you,our shareholders.We also continued to deliver new solutions,like SAF and our Data Center Suite,to shape the future of our company and the world.”DEAR FELLOW SHAREHOLDER:Thank you for your continued ownership of Honeywell.I would like to particularl
3、y thank those of you who have been long-term holders.The entire Honeywell team and I are committed to maximizing your investment and delivering on our mission to shape a brighter future for our Company,our clients,and the world.As has been the norm in recent years,2022 offered its share of opportuni
4、ties but also its share of unique challenges.In terms of opportunities,demand across much of our portfolio remained robust,with orders up 8%on an organic basis,while our backlog grew 7%.We saw continued gains in margin expansion in many of our businesses,resulting in Honeywell segment margin expansi
5、on of 70 basis points.In terms of the challenges,our primary focus areas were staying ahead of inflation and effectively managing the continued supply chain constraints.We developed new skills and tools to manage these challenges,which have been added to our operating system:Accelerator.These skills
6、 and tools will help us become an even stronger,more resilient operating company.We demonstrated in 2022 that by leveraging our operating model we can deliver superior results-independent of market conditions.REFLECTIONS ON THE ECONOMY AND HONEYWELL PERFORMANCEThe global economy continued to experie