Encouraging performance in context of COVID-19. Strong liquidity position, supported by effective crisis management and further portfolio rationalisation.
Brussels – September 25th, 2020 – Aliaxis SA, a global leader in the manufacturing and distribution of advanced plastic piping systems, today announced its results for the 6 months period ended June 30, 2020.
Highlights – 6 months period ended June 30, 2020
- Revenue of €1,369.0 million, down 13.2%
- Current EBITDA of €188.8 million, down 19.4%
- Current EBIT of €115.4 million, down 30.2%
- Net profit of €163.3 million, up 44.1%
- Net financial debt decreased by €190.3 million to €580.7 million at June 30, 2020
- Pro-forma leverage of 1.3x CEBITDA
- Closed divestment of Harrington Industrial Plastics on March 3, 2020
Acting CEO Koen Sticker comments on the results:
“After a promising start early 2020, we were severely impacted by a significant drop in demand following COVID-19 lockdowns from March to May. Immediate measures were taken globally and locally to protect our people, secure our operations and safeguard our financial position. We regained some momentum in May and June, resulting in encouraging H1 results. This difficult period demonstrated the strength of our people and I would like to thank each of them for the high level of commitment they have shown. Even though visibility for the 4th quarter is still low, I am confident in our ability to deliver sound performance in the second half of the year.”