Brussels – October 1st, 2021 – Aliaxis SA, global leader in the manufacturing and distribution of advanced piping systems, today disclosed strong results for the first half of 2021, and is embarking on a new growth strategy.
2021 half-year results highlights (6 months period ended June 30, 2021)
- Revenue of €1,786.4 million, up 30.5% and 13.3% vs H1 2020 and H1 2019 respectively. 39.5% growth year-on-year on a like-for-like(1) basis compared to H1 2020 and 27.2% compared to H1 2019.
- Current EBITDA of €344.3 million, up 82.4% and 47.1% vs H1 2020 and H1 2019 respectively. On a like-for-like basis(1), CEBITDA increased by 87.2% compared to H1 2020 and 53.8% compared to H1 2019.
- CEBITDA margin of 19.3%, compared to 13.8% in H1 2020 and 14.8% in H1 2019.
- Net profit of €174.4 million, up 6.9% year-on-year and 54.0% vs H1 2019.
- Net financial debt(2) of €361 million, a decrease of €76.6 million compared to December 31, 2020 and a decrease of €219.7 million compared to June 30, 2020.
- Pro-forma leverage(3) of 0.5 x CEBITDA.
CEO Eric Olsen comments on the results:
“Our performance was excellent in the first half of 2021, with sales growth of 27.2% and CEBITDA growth of 53.8% on a like-for-like1 basis compared to the same period in 2019 before the pandemic, and even stronger when comparing with H1 2020. Together with a continued focus on customer service and cost management, all regions delivered solid results, with the Americas regions performing particularly well. EMEA and Asia remain on a positive trajectory, despite some temporary plant closures in India during the peak of the 2nd COVID wave in May.
We are determined to further accelerate Aliaxis’ growth, strengthen our positions, and commit to achieving ambitious sustainability objectives. We have defined a bold strategic plan, to reach a CEBITDA of € 850 million in 2025, while positively contributing to society. It’s a plan for growth with purpose.”
Download the press release here.
- 2019 and 2020 adjusted to exclude impact of divestments. 2019 adjusted on a pro-forma basis to reflect the full year impact of the acquisition of Silver-Line Plastics in November 2019. Impact of Foreign Exchange excluded to reflect underlying performance at constant exchange rate.
- Not adjusted for IFRS 16
- Adjusted for IFRS 16
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