Brussels – September 1st, 2022 – Aliaxis SA, global leader in the manufacturing and distribution of pipes and fittings solutions that address the world’s water challenges and accelerate the transition to clean energy, today disclosed strong results for the first half of 2022.
2022 half-year results highlights (6-month period ended June 30, 2022)
• Revenue of €2,232.4 million, a like-for-like (1) increase of 20.5% vs H1 2021
• Current EBITDA of €416.7 million, a like-for-like (1) increase of 14.1% vs H1 2021
• CEBITDA margin of 18.7%, compared to 19.3% in H1 2021
• Net profit of €221.2 million, up 26.8% year-on-year
• Acquisition of Harco, a US manufacturer of gasketed fittings closed on April 1, 2022
• Net financial debt of €573.0 million, net financial leverage of 0.8 x LTM CEBITDA
CEO Eric Olsen comments on the results:
“In the first half of 2022, we reached record sales and EBITDA which confirms our positive operating and financial trajectory following our 2021 performance.
Within a challenging macro-economic environment, our teams showed their ability to adjust to changing market conditions. We delivered growth across all regions and Group revenue was up by 20.5% and CEBITDA growth of 14.1% on a like-for-like (1) basis, compared to the same period in 2021. This performance was mainly driven by the Americas, while all regions remained on a positive trend. We reinforced our business model resilience and long-term growth with a record level of value creating capex investments, along with two strategic acquisitions in injection moulding and water leak detection.
A year after launching our Growth with Purpose strategy, these H1 results confirm our ability to create value across regions while having a positive impact on sustainability.”
Download the full press release below.
(1) 2021 and 2022 adjusted to exclude impact of divestments. 2021 adjusted on a pro-forma basis to reflect the impact of the acquisition of Harco. Impact of Foreign Exchange excluded to reflect underlying performance at constant exchange rate.