Aalberts N.V.: Aalberts trading update
26 Ottobre 2020 - 06:00PM
Utrecht, 26 October 2020
With the health & safety of our people being most important
we continued the strong focus on preventive safety actions in our
operations. Deliveries and service to our customers were good and
our people successfully adopted new ways of working.
In the third quarter our business further recovered. September
YTD compared to last year organic revenue declined with 9.4%,
orderbook was 4.4% higher and net debt (before IFRS-16) reduced
with 16%.
We continued investments in innovations, growing product lines
and future technologies. R&D teams were strengthened to
accelerate new product and (digital) system innovations.
Within our piping systems and hydronic flow control activities
for the eco-friendly buildings end market we see a further increase
in our order intake and sales in the third quarter in all regions.
Innovations launched last years are showing a good growth.
In our surface technologies and fluid control activities for the
sustainable transportation end market order intake increased.
Business is recovering due to increased activity level at our
customers and low inventory level in the supply chain. In the
industrial niches end market recovery is slower as customers remain
cautious to invest. Innovations continue to be important to drive
our growth.
Advanced mechatronics, active in the semicon efficiency end
market, continues to do well.
We remain focused on cash management, cost optimisations and
innovations, driving forward our strategy ‘focused acceleration’,
realising our objectives. We have accelerated our strategic
restructuring plans, explained in our 1H2020 results. The one-off
full year strategic restructuring cost will increase to approx. EUR
50 million in 2020 with an increased annual benefit of approx. EUR
50 million, partly in 2020 and fully in 2021.
contact +31 (0)30 3079 301 (from 8:00 am
CET)investors@aalberts.com
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