Aliaxis publishes H1 2024 results

Aliaxis, a world leader in fluid management solutions that enable access to water and energy, announces its first-half 2024 results.

Highlights – 6-month period ended June 30, 2024

• Revenue of €2.0 billion, a like-for-like¹ decrease of 5.2% vs H1 2023
• Recurring EBITDA² of €305.6 million, a decrease of 13.1% on a like-for-like basis¹ vs H1 2023
• Recurring EBITDA margin of 15.1%, declined by 1.1 p.p. vs H1 2023
• Net profit amounts to €123.2 million. Compared to H1 2023 and excluding the net accounting gain on shares of Uponor recognised in that period, net profit is down 16.9%
• Net financial debt³ of €860 million, an increase of €106 million vs December 2023. Leverage of 1.5x last-twelve-months recurring EBITDA
• On August 29, Aliaxis expanded its US footprint by acquiring the manufacturing assets of Johnson Controls’ CPVC fire suppression systems business

Managing Director, Thierry Vanlancker comments on the first-half results:

“Aliaxis continues to deliver good operating profitability despite the softer market conditions, especially in EMEA, the Pacific, and Latin America, while facing pricing pressures in North America. Revenue was €2.0 billion, down 5.2% from the first-half of 2023 on a like-for-like¹ basis, but our teams were able to keep the recurring EBITDA margin resilient at 15.1%, down 1.1 p.p.. A highlight was seeing our Indian organisation regain share in a fast-growing market. In another of our key strategic markets, the US, we continued to capitalise on newly added capacity to expand our market position.

Given the challenging market conditions, we are doubling down on operational discipline, while seeking opportunities to better leverage the scale of our group to achieve new levels of performance.”