Aalberts N.V.: Aalberts delivers resilient performance in challenging markets
Utrecht, 27 February 2025
highlights
(before exceptionals)
- revenue EUR 3,149 million; organic revenue decline 3.4%
- EBITA EUR 471 million; EBITA margin 15.0%
- earnings per share before amortisation EUR 3.12
- free cash flow EUR 334 million
- innovation rate at 19%; SDG rate at 71%
CEO statement
“In 2024, we delivered another solid and resilient performance despite challenging end markets environment. Thanks to the strong discipline of our teams, we improved our added value margin, we sustained a good EBITA margin and free cash flow. We also made good progress on our sustainability commitments.
In building, we faced market headwinds in Europe and saw better activity in the last quarter. In industry, we managed to keep high profitability despite lower activity. In semicon, activity was lower in the last quarter due to customer inventory adjustments and the organic growth remained as expected for the full year”, said Stéphane Simonetta.
“The year 2024 proved to be a challenging year and therefore we have taken the corrective actions to improve our profitability and reduce inventories, especially in our building segment.
We have strengthened our position in the USA for our industry segment with the acquisition of Steel Goode Products and the agreement to acquire Paulo.”
dividend and share buyback
Despite the difficult market in 2024, we are on the right track, hence stabilising our dividend and starting a share buyback programme. Therefore, to the General Meeting, we propose a cash dividend of EUR 1.13, equal to last year. In addition, we announce a EUR 75 million share buyback programme, commencing on 28 February 2025 and running until 24 October 2025, for the purpose of repurchasing and subsequently cancelling shares, reinforcing our dedication to enhancing shareholder value.
2025 outlook
In building, we expect modest recovery in Europe and continued growth in America. In industry, we see headwinds in automotive, machine build and agriculture, especially in Germany and France, while we expect continued growth in aerospace, power generation and defence. In semicon we see continued destocking from our customers.
For the first quarter, with continued lower activity in industry and semicon, and moderate organic growth in building, we expect mid-single digit organic revenue decline.
For the full year, based on current market trends, we expect organic revenue to be flat, with an improved EBITA margin. Capital expenditure will remain between EUR 200-250 million. We will further drive cost-out excellence and inventory optimisation.
“We are executing our strategy ‘thrive 2030’ as presented at our Capital Markets Day. With new capabilities and expertise added to our leadership teams we are starting the third evolution phase of the company.
Despite short-term market challenges, we have many promising organic growth initiatives and we continue to have an active funnel for further acquisitions to strengthen our leadership positions.
This year will be an important year for Aalberts as we will celebrate our 50th company anniversary. I remain optimistic for the future as our three segments are well positioned with attractive end market growth driven by global tailwinds”, added Stéphane Simonetta.
webcast
A webcast will take place on 27 February 2025, starting at 9:00 am CET.
The webcast and presentation can be accessed via
contact
+31 (0)30 3079 302 (from 8:00 am CET)
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