Aalberts N.V.: Aalberts trading update
23 Juin 2020 - 7:30AM
Utrecht, 23 June 2020
Aalberts faced a limited number of COVID-19 infections till now.
Our preventive safety actions, installed beginning of March, are
working well. Only a few locations in Southern Europe were closed
for several weeks, due to governmental instructions. All impacted
sites reopened beginning of May.
In the first five months of the year our organic revenue
declined with 12% compared to last year, due to COVID-19. Our
orderbook end of May was at the same level as last year. Our net
debt (before IFRS 16) is reduced with 15% compared to last
year.
Activities in installation technology and climate technology, in
the eco-friendly buildings end market, continued reasonably well on
a lower level. In Southern Europe and UK we faced more challenging
market circumstances due to governmental lockdowns, which affected
our distribution channels. From the last weeks of May onwards we
see an increase in our order intake and sales. We continued our
investments in press technology, postponed building expansions and
continued our innovation initiatives.
Material technology, active in industrial niches and sustainable
transportation, faced a slowdown in order intake and sales in the
last months, due to lower demand and customer site closures. Most
customer sites reopened beginning of May, starting up their supply
chain step by step. We continued our capital investments in new
technologies, reduced our capacity expansions and postponed our
building expansions.
Activities in industrial technology showed a mixed picture.
Within fluid control, our activities in industrial niches did well,
activities in beverage dispense faced difficult circumstances. Gas
and cooling regulator applications for sustainable transportation
were on a low level, mainly due to customer site closures,
reopening beginning of May. Our advanced mechatronics activities
for the semicon efficiency end market realised a strong growth
compared to last year with a record high orderbook for the coming
months. We continued our operations, CAPEX and service to our
customers on a good level.
In all four business segments we focused on cash management and
cost optimisations. Parallel, we accelerated our action plan
defined in the updated strategy ‘focused acceleration’, presented
December 2019. Many projects were initiated to reduce our
structural costs and net working capital, which will lead to
one-off redundancy costs during 2020. The effect of these actions
will partly benefit 2H2020 and fully FY2021, to be explained in our
1H2020 interim results. Our goal is to evolve faster into an even
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 all over the world. At the
same time initiating lots of structural improvements, optimising
OPEX, NWC and CAPEX, driving our strategy forward.
contact +31 (0)30 3079 301 (from 8:00 am CEST)
investors@aalberts.com
Aalberts NV (EU:AALB)
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