Brussels – March 1st, 2023 – Aliaxis, a world leader in fluid management solutions that enable access to water and energy, discloses 2022 results that equal last year’s record results despite challenging environment and high inflation.
Highlights – 12 months period ended December 31, 2022
- Revenue of €4.3 billion, a like-for-like1 increase of 11.3% vs 2021 and 46.7% vs 2020
- Current EBITDA of €728.2 million, increase of 8% as reported and stable on a like-for-like1 basis vs 2021 and 48.7% vs 2020. Increase predominantly driven by the Americas.
- CEBITDA margin of 16.8%, declined by 1.5 p.p vs 2021 due to strong inflation and market slowdown in Q4
- Net profit of €371 million, down 7.2% vs 2021 and up 85.9% vs 2020
- Net financial debt2 of €742 million, an increase of €643 million vs December 31, 2021, largely due to working capital increase of €512 million
- Leverage of 1.0x CEBITDA
- Strategic acquisitions of Harco in the US and Lareter in Italy
- Proposed dividend of €0.860 gross per share (10% increase)
CEO Eric Olsen comments on the 2022 full-year results1:
“2021 was a very strong year for Aliaxis and 2022 matched that great performance. Our revenue increased to €4.3 billion. Our EBITDA margin was at 16.8%, although down from 2021, it was well above pre-COVID levels. We maintained record EBITDA despite significant inflation, confirming the step change in our profitability in 2022. Our growth trajectory was recognized as we were awarded Belgium’s EY Company of the Year.
Sustainability and innovation remain our top priorities. At the end of 2022, it’s about a quarter of our operations powered by renewable electricity. We successfully launched new recycling programs, especially in New Zealand, to further decrease our carbon footprint and create a positive impact on society. On the innovation front, the percentage of sales from new products which are less than 5 years old climbed steeply from 4.3% to 6.2%, representing €260 million in additional sales.”
Download the full press release below.
1 2021 adjusted on a pro-forma basis to reflect the impact of the acquisition of Harco Fittings LLC in April 2022, Aquarius Spectrum in August 2022, OptiRTC Inc. in November 2022 and Lareter in December 2022. Impact of FX excluded to reflect underlying performance at constant exchange rate.
2 Includes IFRS16 Leases