Utrecht, 27 July 2023
highlights
cash flow from operations EUR 221 million (+146%)
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.
webcast
An audio webcast will take place on 27 July 2023, starting at 9:00 am CEST.
The audio webcast and presentation can be accessed
via aalberts.com/webcast1H2023 (http://www.aalberts.com/webcast1H2023)
contact
+31 (0)30 3079 301 (from 8:00 am CEST)
investors@aalberts.com (mailto:investors@aalberts.com)
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