Aalberts - Post-summer slowdown in industrial
10 months organic revenue growth of 5% indicates ongoing pressure in buildings and a slowdown in industry after the summerWe will reduce our estimates for 2023 and especially 2024 to reflect the more challenging environmentWe cut our target price from EUR 52 to EUR 43 to reflect the cut in our estimates, higher interest rates and lower peer valuationsAalberts Industries is a technology company. As of Dec 31 2015, Co. is organized into four businesses: building installations, which produces and sells connection systems and valves to distribute and control water or gas in heating, cooling, drinking water, gas and sprinkler installations in residential, commercial and industrial buildings; climate control, which develops and produces complete hydronic systems-from source to emitter- for heating and cooling systems; industrial controls, which develops and produces regulation and control systems for selected niche markets; and industrial services, which provides a combination of material technology know-how and manufacturing capabilities.
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