Aliaxis reports solid performance in a challenging COVID-19 context
Brussels – March 26th, 2021 – Aliaxis SA, global leader in the manufacturing and distribution of advanced piping systems, demonstrates resilience through its 2020 results, disclosed today.
Highlights – 12 months period ended December 31, 2020
- Revenue of €2.9 billion, decrease of 6.7%. Increase of 1.6% on a like-for-like [1]
- Current EBITDA of €461 million, increase of 4.8%. Increase of 11.3% on a like-for-like1
- EBIT of €331 million, increase of 2.2%.
- Net profit of €199 million, up 8.2%.
- Net financial debt of €438 million, a decrease of €333 million vs 2019.
- Closed divestment of Harrington Industrial Plastics in Q1 and of Aliaxis Singapore in Q4.
- Net proceeds and (pre-tax) capital gain in excess of €150 million.
- Proposed dividend: €0.658 gross or €0.4606 net after Belgium withholding tax.
CEO Eric Olsen comments on the results:
“Performance in 2020 demonstrated resilience and potential. Our teams improved on safety, went to extraordinary lengths to serve our customers in challenging circumstances, and reacted quickly to adapt our business plans to a volatile situation during the year. This resulted in solid earnings growth and debt reduction, leaving us in a strong financial position. Building on solid foundations, anticipating more stability and visibility, we are preparing a new chapter of profitable growth.”
[1] 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 FX excluded to reflect underlying performance at constant exchange rate.
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