publication interim results 2020

Aalberts accelerates strategy ‘focused acceleration’

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.