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.

reasons to invest
Aalberts Playbook
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.


10 year

Euronext Amsterdam AALB

financial calendar

all investor events

financial calendar

4 December 2023
Berenberg European Conference Pennyhill Park
4 December 2023
Goldman Sachs Industrials Conference
22 February 2024
before start of trading
publication full year results
22 February 2024
9.00 CET
webcast full year results
22 May 2024
before start of trading
trading update
23 May 2024
General Meeting
04 December 2023
Berenberg European Conference Pennyhill Park
04 December 2023
Goldman Sachs Industrials Conference
22 February 2024
before start of trading
publication full year results
22 February 2024
9.00 CET
webcast full year results
22 May 2024
before start of trading
trading update
23 May 2024
General Meeting

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 %
> 20 %
innovation rate
> 70 %
SDG rate
< 2.5
leverage ratio

our segment reporting structure

greatness is made of shared knowledge




analyst coverage

company recommendation target price
Martijn den Drijver
13 November 2023
EUR 46.00
Loco Douza
23 February 2023
EUR 59.10
Bank of America
Alex Virgo
13 October 2023
EUR 35.00
Marta Bruska
27 September 2023
EUR 65.00
Degroof Petercam
Luuk van Beek
9 November 2023
EUR 43.00
Tijs Hollestelle
26 September 2023
EUR 40.00
David Kerstens
3 July 2023
EUR 58.00
Kepler Cheuvreux
Ruben Devos
27 October 2023
EUR 32.00
Morgan Stanley
Aurelio Calderon Tejedor
4 October 2023
EUR 42.00
Van Lanschot Kempen
Chase Coughlan
1 December 2022
EUR 53.00


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.


At the General Meeting of Aalberts N.V., held on 25 May 2023, the dividend for the financial year 2022 is fixed at EUR 1.11 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 10.00% 18 Oct 2021
Capital Group 9.92% 6 Jan 2020
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
Norges Bank 3.00% 27 May 2022

* disclosure based on interest as per registration date AGM 2022


As from 14 July 2014 the number of outstanding shares Aalberts N.V. is 110,580,502. Last update 21 November 2023.

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:

ordinary shares
conditional share awards
Stéphane Simonetta
Arno Monincx

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 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 2.2.1 - term of appointment Management Board
The term of the current appointment of the CEO is unlimited. The CFO has been appointed for a period of four years and Aalberts will also apply this four-year period for the appointment of new members of the Management Board. On dismissal of the CEO, the existing employment conditions and regulations are considered; this does not apply to the CFO nor new appointments.

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. The authority to make a binding nomination to the General Meeting concerning the appointment of members of the Management Board and Supervisory Board could be an essential instrument in the well-balanced decision-making process. Therefore, the deprivation of the binding character of the nomination is aligned with Dutch law instead of the Code.

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.


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 2024
Jan van der Zouw 2025

general meeting

general meeting

any questions? Rutger Relker
director investor relations

investor updates

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