Mixed Aliaxis performance in HY1 2019 – Further progress on portfolio rationalisation and efficiency programs
Brussels – September 27, 2019 – Aliaxis SA (‘Aliaxis’, ‘the Group’ or ‘the Company’), 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, 2019.
Highlights – 6 months period ended June 30, 2019
- Revenue of €1,577.1 million, an increase of 1.4% (up 0.0% in constant currency)
- Current EBITDA of €234.1 million, an increase of 8.9% (up 7.4% in constant currency) – Impact of first adoption of IFRS 16 of €16.1 million or 7.5% vs HY1 2018
- Current EBIT of €165.3 million, an increase of 2.2% (up 0.5% in constant currency)
- Net profit of €113.3 million, an increase of 23.1%, mainly explained by exceptional elements such as a capital gain on the divestment of Rheinhütte Pumpen, partially offset by some restructuring costs
- Net financial debt increased by €80 million to €855 million at June 30, 2019 -Negative impact of IFRS 16 of €122 million, partially offset by net proceeds on the Pumps divestment of €79 million
- Further progress on portfolio rationalisation:
- Completed divestment of Rheinhütte Pumpen on May 1, 2019
- Signed agreement to divest Ceramics Business on May 29, 2019
- Signed agreement to acquire Silver-Line Plastics on August 22, 2019, a US leader in the manufacturing of plastic pipe products.
CEO Laurent Lenoir comments on the results:
“Despite mixed and challenging conditions in some of our main markets, we managed to deliver revenue in line with previous year. We are moving forward on portfolio rationalisation and are reinforcing our position in strategic geographies. Against the outlook of an economic slowdown, we will continue to adapt our cost structure to the ever-changing market environment. I am confident that Aliaxis is well positioned to face the challenges ahead.”
Aliaxis is a global leader in advanced plastic piping systems for building, infrastructure, industrial and agriculture applications. The company provides communities around the world with sustainable innovative solutions for water and energy, leading the industry in a way that anticipates the rapidly evolving needs of its customers and of society. With a global workforce of about 16,000 employees, Aliaxis offers specific solutions that meet our customers’ most demanding needs across the globe. Aliaxis is active through leading local brands and operating in over 45 countries, combining local solutions with global innovation and operational excellence. The company is privately owned, with its global headquarters in Brussels, Belgium.
More on www.aliaxis.com