Aalberts N.V.: Aalberts accelerates strategy ‘focused acceleration’
22 Juillet 2020 - 6:45PM
Utrecht, 22 July 2020
highlights
o revenue EUR 1,287 million; organic -11.1% o operating profit
(EBITA) EUR 121.7 million; EBITA-margin 9.5% o net profit before
amortisation EUR 85.6 million; per share EUR 0.77 o solid cash flow
from operations EUR 68 million o orderbook end of June higher than
last year o continued investments and innovation initiatives; CAPEX
EUR 53.8 million o 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.
- full press release in pdf
Aalberts NV (EU:AALB)
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