Artboard 14 Artboard 21 copy 2Artboard 6 Artboard 22 copy 2 Artboard 38 copy 2 Created with Sketch. Artboard 5 Artboard 12Artboard 24 copy 2 Artboard 23 copy 2Artboard 40 copy 2Artboard 41 copy 2Artboard 2 Artboard 16Artboard 17Artboard 11 logo 1 Created with Sketch. logo 2 Created with Sketch. Logo 3 Created with Sketch. Logo 4 Created with Sketch. Artboard 15 Created with Sketch. play btn Created with Sketch. sdg-11-icon sdg-12-icon sdg-6-icon sdg-7-icon sdg-8-icon Artboard 18 Artboard 3Artboard 7Artboard 10Artboard 9Artboard 8 Artboard 2Artboard 4
22 July 2020 6:45 PM CEST

Aalberts accelerates strategy ‘focused acceleration’

highlights

  • revenue EUR 1,287 million; organic -11.1%
  • operating profit (EBITA) EUR 121.7 million; EBITA-margin 9.5%
  • net profit before amortisation EUR 85.6 million; per share EUR 0.77
  • solid cash flow from operations EUR 68 million
  • orderbook end of June higher than last year
  • continued investments and innovation initiatives; CAPEX EUR 53.8 million
  • acceleration strategy: one-off full year strategic restructuring cost of approx. EUR 40 million with an annual benefit of approx. EUR 45 million
CEO statement
"We are fortunate that we only faced a limited amount of COVID-19 infections. Our business was impacted with an organic revenue decline of 11% during the first half of the year. We focused on cash management and cost optimisations. From the last weeks of May we see an increase in our order intake and sales. The orderbook end of June is higher than last year. We continued our CAPEX cash out, although on a slightly lower level compared to last year. Innovation roadmaps of all niche technologies continued.

We accelerated our action plan, presented during our Capital Markets Day (CMD) in December 2019. Many projects were initiated to reduce our structural costs and net working capital. This will lead to one-off strategic restructuring costs during 2020, which will partly benefit 2020 and fully 2021. Our goal is to evolve faster into a stronger and better Aalberts, realising our strategic objectives.

Our Aalberts people did a great job in continuing our operations in a safe way, serving our customers worldwide. At the same time initiating lots of structural improvements, optimising OPEX, NWC and CAPEX, driving our strategy forward.”

outlook
We will continue our operations in a safe way to serve our customers and are prepared for a possible ‘second’ wave of COVID-19 infections.

Our focus continues to be on cash management, cost optimisations and innovation initiatives. CAPEX continues in growing product lines, future technologies and innovations. Building and capacity expansions will be postponed. We expect a lower CAPEX cash out in 2H2020 than last year.

We accelerate the strategy ‘focused acceleration’ to evolve faster into a stronger and better Aalberts, realising our strategic objectives.

download full press release