trading update - third quarter 2008
Aalberts confronted with a total market slowdown
Aalberts Industries N.V. announces that the company is confronted with exceptional and unforeseen market circumstances. The situation on the financial markets and the impact of that on the economic circumstances are causing a further slowdown in Aalberts Industries’ activities.
Where during the first half of 2008 the different markets were still characterised by distinctive trends, Aalberts Industries is recently, particularly the last weeks, confronted with a total slowdown in its main markets.
Aalberts Industries has reacted by taking measures. The company has reduced its global workforce in the last months with approximately 650 employees and has taken the exceptional costs.
Aalberts Industries will remain focused on strengthening its market position in the different markets. The actions taken can however not compensate the negative impact of the unprecedented market circumstances. Aalberts Industries expects therefore that in 2008 earnings per share will be 15-20% lower than in 2007.