publication interim results 2023

Aalberts delivers strong performance with record EBITA and cash flow

CEO statement
“In the first six months of the year we delivered a strong performance with a record revenue, EBITA and cash flow from operations. Our customer service improved due to fewer supply chain issues.

The pricing initiatives started in the second half of last year led to a good added-value margin. We continued the initiatives in the first half of this year, compensating for high raw material costs and inflation.

In eco-friendly buildings we faced a volume decline due to ongoing inventory reductions of our customers. On top we reduced our own inventories, resulting in lower volumes in our factories. To compensate these effects we started additional cost reduction and purchase saving actions. Besides, we initiated sales actions to gain market share. This resulted in a resilient EBITA margin.

In sustainable transportation and industrial niches we performed very well, due to good volumes in our locations and operational excellence projects executed the last years. This resulted in an excellent operational leverage and EBITA margin. Our semicon efficiency activities performed well. Efficiency, service and cash flow improved strongly.

Overall, we continued our business development projects, driving organic growth, innovation and operational excellence, leading to an increase of capital expenditure. The inventory reduction resulted in a strong cash flow.”

outlook
In the second half of 2023, we will continue our many business development projects driving organic growth, innovation and operational excellence. Capital expenditure to facilitate these plans will increase and the inventories will be further reduced.

We are relentlessly executing our strategy Aalberts ‘accelerates unique positioning’, realising our objectives.