Utrecht, 22 May 2024
trading update - first four months 2024
In the first four months Aalberts realised -2.6% organic revenue growth compared
to last year, for building technology segment -6.1% and industrial technology
segment +1.7%. The added value margin remained on a good level.
Productivity improvement, cost savings and inventory reduction plans are in
place to manage cost inflation and lower volumes. We are deploying our strategic
initiatives with our long-term business plans and portfolio optimisation.
In eco-friendly buildings we continued to see lower activity, in line with our
expectations. Our added value margin remained on a good level thanks to our
robust pricing, sales initiatives and purchasing actions. We continued to see
the impact of decreasing end-user demand due to postponements of projects in new
build, while renovation remained more stable. Stock levels at wholesales were
still low for our products. We saw better activity in America, Asia and Middle
East compared to Europe. Our water treatment offering for heating systems grew
faster than expected. Energy & resource efficiency in residential and commercial
buildings remain long-term growth drivers.
In semicon efficiency growth continued with volatile demand. We improved our
service with increased efficiency. Our orderbook remained on a high level.
Further expansions of our footprint and manufacturing capacity are on track,
enabling the strategic growth and new business development plans of our
customers.
In sustainable transportation we saw stable activity with lower demand in
automotive and continued growth in aerospace. The demand for precision
manufactured parts and specialised surface technologies further continued,
driven by new developments in e-mobility, lightweight materials, sustainability
and reshoring.
In industrial niches we saw a lower activity level in industrial production in
Western Europe and America and continued growth in Asia.
CEO statement
Stéphane Simonetta comments: "The first four months were in line with our
expectations. We managed the headwinds in building technology and our growth
continued in industrial technology. We sustained our added value margin with
cost saving actions and robust price levels in challenging market circumstances.
We remain well positioned for the rebound of activity, as our customers expect
demand to strengthen towards the end of the year. We are executing our strategy
Aalberts 'accelerates unique positioning' and will continue to focus on organic
revenue growth, operational excellence, portfolio optimisation and sustainable
entrepreneurship to enable a clean, smart and responsible future."
contact
+31 (0)30 3079 302 (from 8:00 am CEST)
investors@aalberts.com (mailto:investors@aalberts.com)
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