Aliaxis reports mixed performances compared to record levels in 2018 and further progresses on its transformation journey

Brussels – April 2, 2020 – 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 12 months period ended December 31, 2019.

Highlights – 12 months period ended December 31, 2019

Revenue of €3,118 million, an increase of 0.7% vs 2018
Current EBITDA of €440 million, increase of 6.0%. Impact of first adoption of IFRS 16 of €35.1 million
EBIT of €324 million, increase of 18.4%
Net profit of €184 million, up 28.8%
Net financial debt of €771 million. Negative impact of IFRS 16 of €146 million, Decrease in net financial debt of €150 million vs 2018 on a comparable basis.
Net leverage of 1.6x
Further progress on portfolio rationalisation. Divestments of Rheinhütte Pumpen and German Ceramics Business completed. Combined net proceeds and (pre-tax) capital gain of €184 million and €114 million respectively
Completed acquisition of Silver-Line Plastics, a US leader in the manufacturing of plastic pipe products, on October 31, 2019 (€134 million)
On March 3, 2020, Aliaxis sold Harrington Industrial Plastics, the Group’s largest divestment, for a significant cash consideration

CEO Laurent Lenoir comments on the results:

“2019 has seen significant growth in our key geographies such as India and the US, supported by a number of growth investments. This strong performance was undermined by lower results in APAC and Latam leading to a mixed picture. Furthermore, we have actively reshaped our portfolio of activities to strengthen our core. Our new Leadership organisation is now in place to drive strategic implementation at an accelerated pace and to respond decisively to the challenges raised by the recent COVID-19 pandemic.”