Half Year 2024 Aalberts NV Earnings Call Transcript
Key Points
- Aalberts NV (AALBF) achieved a 15% EBITDA margin despite challenging market conditions.
- The company reported an EPS of EUR 1.61, demonstrating resilience in profitability.
- Strong performance in the Industrial Technology segment, with improved profitability and high order book levels.
- Continued investment in long-term growth, with CapEx plans aligned with the previous year.
- Positive trends in specific product lines such as Grooved technologies, water treatment offerings, and safety valves, outperforming market trends.
- Organic growth declined by 3.9%, with significant challenges in the Building Technology segment.
- Lower activity in Europe, particularly in Germany, affecting the eco-friendly building sector.
- Decreased end-user demand in new builds and renovations, leading to softer market conditions.
- Inventory levels at wholesalers remained low, impacting sales performance.
- The EBITDA margin for Building Technology decreased from 14% to 13%, reflecting ongoing market pressures.
Good morning, ladies and gentlemen. Thank you for joining us today. It's my pleasure to welcome you with Aalberts first half 2024 presentation. My name is Victoria Harker, DIRECTOR, Investor Relations. This morning, we published our interim results. We delivered a 15% EBITDA margin in challenging markets, together with our CEO, Stéphane Simonetta, and our CFO, Arno Monincx. We will look back for the first half of 2024, and we will look forward to the second half 2024.
Stéphane will kick off the presentation with some key highlights, this will be followed by Arno, who will give a financial update. Stéphane will then share our strategic priorities and outlook. After the presentation, we will give you the opportunity to engage directly with us in the Q&A session. Your questions and feedback are very important to us and we encourage you to participate. Later today, we will make both the presentation and the recording of this webcast available on the website. Please, welcome Stéphane Simonetta to begin our presentation.
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