investors

we are relentless in our pursuit of excellence

creating true shareholder value

The Aalberts way of value creation is to achieve unique worldwide leading market positions with niche technologies in selective end markets. Relentlessly running the Aalberts playbook results in long-term shareholder value. Our track record of more than 45 years of sustainable profitable growth proves the sustainability of our business model.

01
reasons to invest
Aalberts Playbook
dummy
Aalberts Playbook

the Aalberts playbook relentless pursuit of excellence

Our playbook? Achieving compelling competitive advantage, driving margin expansion through operational leverage and excellence, converting strong operational execution into free cash flow and continuously optimising our portfolio through disciplined capital allocation, achieving compounding returns.

actual

10 year

Euronext Amsterdam AALB
40.12
change
-2%
close
40.94

financial calendar

all investor events

financial calendar

tomorrow
publication interim results
3 September 2024
London
ING Benelux Conference
4 September 2024
London
Morgan Stanley Industrial CEOs Unplugged
4 September 2024
New York
Jefferies Global Industrial conference
10 September 2024
Paris
Kepler Cheuvreux Paris Conference
26 September 2024
Munich
Baader Investment Conference
1 October 2024
London
Redburn mid-cap conference
7 November 2024
trading update
14 November 2024
Paris
KBC Paris Conference
19 November 2024
Brussels
ING Brussels conference
20 November 2024
London
VLK London Conference
20 November 2024
Paris
BNP Paribas
3 December 2024
London
Berenberg European Conference
4 December 2024
London
Goldman Sachs Industrials Conference
10 December 2024
New York
ING New York Conference
27 February 2025
publication full year results
10 April 2025
General Meeting
27 May 2025
trading update
25 July 2024
publication interim results
03 September 2024
London
ING Benelux Conference
04 September 2024
London
Morgan Stanley Industrial CEOs Unplugged
04 September 2024
New York
Jefferies Global Industrial conference
10 September 2024
Paris
Kepler Cheuvreux Paris Conference
26 September 2024
Munich
Baader Investment Conference
01 October 2024
London
Redburn mid-cap conference
07 November 2024
trading update
14 November 2024
Paris
KBC Paris Conference
19 November 2024
Brussels
ING Brussels conference
20 November 2024
London
VLK London Conference
20 November 2024
Paris
BNP Paribas
03 December 2024
London
Berenberg European Conference
04 December 2024
London
Goldman Sachs Industrials Conference
10 December 2024
New York
ING New York Conference
27 February 2025
publication full year results
10 April 2025
General Meeting
27 May 2025
trading update

our track record shareholder value creation

Share price
Earnings per share
Dividends per share
Long term shareholders

strategy & objectives

investor strategy
accelerating unique positions with mission-critical technologies, high entry barriers and pricing power
investor strategy
creating sustainable profitable growth with high added-value margins, EBITA margins and innovation rates
investor strategy
driving operational excellence and portfolio optimisation converting into free cash flow, achieving world-class operations
investor strategy
allocating capital in a disciplined way strengthening our unique positions
investor strategy
realising sustainable entrepreneurship with clear impact and commitment
investor strategy
ensuring an open, pragmatic culture and lean structure, using the Aalberts strengths
financial objectives 2022-2026
4-6 %
annual organic revenue growth
16-18 %
EBITA margin
18-20 %
ROCE
> 20 %
innovation rate
> 70 %
SDG rate
< 2.5
leverage ratio

our segment reporting structure

greatness is made of shared knowledge

webcasts

2024
2023
2022
2021
2020
2019
archive

publications

analyst coverage

company recommendation target price
ABN AMRO Oddo BHF
Martijn den Drijver
outperform
6 March 2024
EUR 50.50
AlphaValue
Loco Douza
buy
3 April 2024
EUR 55.70
Bank of America
Elliott Robinson
underperform
26 June 2024
EUR 39.50
Berenberg
Christoph Greulich
buy
4 June 2024
EUR 56.00
BNP Paribas
George Speak
outperform
12 March 2024
EUR 60.00
Degroof Petercam
Luuk van Beek
buy
18 March 2024
EUR 55.00
ING
Tijs Hollestelle
hold
26 September 2023
EUR 40.00
Jefferies
David Kerstens
buy
9 July 2024
EUR 52.00
KBC Securities
Kristof Samoy
accumulate
9 July 2024
EUR 45.00
Kepler Cheuvreux
Ruben Devos
hold
27 February 2024
EUR 38.00
Van Lanschot Kempen
Chase Coughlan
neutral
4 June 2024
EUR 44.00

 

disclaimer
Aalberts is followed by the analysts at these brokerage firms. The list may not be complete and is subject to change. Please note that any opinions, estimates or forecasts regarding Aalberts' performance made by the analysts at these brokerage firms are theirs alone and do not represent opinions, forecasts or predictions of Aalberts N.V. or its management. Aalberts N.V. does not by its reference above or distribution imply, and expressly disclaims, any endorsement of or concurrence with any information, estimates, forecasts, opinions, conclusions or recommendations provided by these analysts.

dividend

At the General Meeting of Aalberts N.V., held on 23 May 2024, the dividend for the financial year 2023 is fixed at EUR 1.13 per share with a nominal value of EUR 0.25 each.

Holders of ordinary shares will receive the dividend through their bank or broker in whose custody the shares are held at the close of business (record date). The dividend will be made payable to them through ABN AMRO Bank N.V. In consultation with Aalberts, ABN AMRO Bank N.V. is offering a dividend reinvestment plan (DRIP) to holders of ordinary shares with a nominal value of EUR 0.25 each, who are holding their shares through Euroclear Nederland, whereby those shareholders have the opportunity to reinvest their net dividend in ordinary shares Aalberts N.V.

For further information about this subject you can contact your bank or broker or ABN AMRO Corporate Broking at +31 (0)20 628 6070

dividend policy
In the General Meeting of 2014, shareholders agreed to a dividend payment of 30% of net profit before amortisation, only to be paid in cash.

dividend history
in EUR per ordinary share
dividend history

shareholders >3% interest

The following shareholders with a substantial participating interest of more than 3% are registered with the AFM register substantial holdings, in accordance with the notification duty pursuant to the Dutch Financial Supervision Act:


shareholder interest disclosure date
Aalberts Beheer B.V., J. Aalberts,
J.A.M. Aalberts-Veen*
11.90% 13 May 2022
FMR LLC 9.99% 29 Feb 2024
Capital Research and Management Company 4.97% 30 May 2024
BlackRock Inc.  3.21% 21 Mar 2024
Impax Asset Management 3.02% 2 Apr 2019
BNP Paribas Asset Management Holding 3.01% 26 Nov 2018
New Perspective Fund 3.00% 17 Sep 2018

* disclosure based on interest as per registration date AGM 2022

shareholders

As from 14 July 2014 the number of outstanding shares Aalberts N.V. is 110,580,502. Last update 21 June 2024.

directors and members of the supervisory board

The following shares are held in accordance with the AFM register notifications directors and members of the supervisory board:


name
ordinary shares
conditional share awards
Stéphane Simonetta
CEO
10,000
39,000
Arno Monincx
CFO
12,000
20,000

corporate governance

Good corporate governance, including focus on long-term value creation and culture, is a key component of 'the Aalberts way' of doing business and is embedded in our core values. Aalberts endorses the principles of the Dutch Corporate Governance Code (the “Code”). The Code is available at www.mccg.nl. Our corporate governance structure has been updated in accordance with the Code in the past years.

Aalberts virtually applies all best practice provisions of the Code. To a limited extent, these have been adjusted to specific circumstances of Aalberts. As a result, the Management Board believes it meets the principles of ‘comply or explain’. The deviations from the Code relate to the following subjects.

best practice provision 4.3.3 – binding nomination
The Articles of Association provide that the General Meeting can deprive a nomination for appointment of a Management Board member or a Supervisory Board member of its binding nature, with a resolution passed with a maximum majority permitted by law. Currently, this majority amounts to two-thirds of the votes cast. The deviation relates to the well-balanced allocation of the control and influence of the company’s individual bodies as referred to in the paragraph ‘decision-making and priority shares’.

best practice provision 2.3.10 – company secretary
Aalberts does not have a formal company secretary. This position is adequately fulfilled by the legal and governance function at head office level, in line with the lean and effective organisational structure.

best practice provision 3.4.1 – pay ratio
In the calculation of the pay ratio for 2023, we applied the same calculation method as previous years, meaning we deviate from the explanation on the calculation of the pay ratio as included in the Code. We take the remuneration of both Management Board members into account, instead of only the CEO, and the share-based part of the remuneration relating to the LTI was not included for the Management Board members, nor the employees. The reason is that there was a CEO change in September 2023 and the new CEO has not been granted conditional share awards in 2023. For a fair comparison we applied the method of previous years and envisage to apply the calculation method as prescribed in the explanatory note to provision 3.4.1 sub iv of the Code as from 2024.

committees

There are two committees of the Supervisory Board: the Audit Committee and the Remuneration, Selection and Appointment Committee.
 
Audit Committee
The Audit Committee aids and advises the Supervisory Board in its responsibility to supervise the integrity and quality of the Aalberts’ financial reporting and the effectiveness of Aalberts’ internal risk management and control systems. The Audit Committee consists of Piet Veenema (chairman), Lieve Declercq and Thessa Menssen.

Nomination, Selection and Remuneration Committee
Nomination, Selection and Remuneration Committee (“NSR”) aids and advises the Supervisory Board on matters relating to the selection and appointment of the members of the Management Board and Supervisory Board. The NSR further monitors and evaluates the remuneration policy for the Management Board. The NSR consists of Jan van der Zouw (chairman), Peter van Bommel and Frank Melzer.

rotation schedule supervisory board

In line with the Code, Supervisory Board members can be appointed for a maximum of two 4-year terms and subsequently two 2-year terms.

name year of retirement
Peter van Bommel (Chairman) 2025
Lieve Declercq 2025
Frank Melzer 2027
Thessa Menssen 2027
Piet Veenema 2026
Jan van der Zouw 2025

general meeting

general meeting

any questions? Rutger Relker
director investor relations

investor updates

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