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.”
Download the full press release here.
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.
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