Brief: Aalberts Announces H1 Operating Profit (EBITA) Of 121.7 Million Euros

Aalberts

22/07/2020 18:04

July 22 (Reuters) - Aalberts NV  AALB.AS :
    * AALBERTS ACCELERATES STRATEGY ‘FOCUSED ACCELERATION’
    * WE EXPECT A LOWER CAPEX CASH OUT IN 2H2020 THAN LAST YEAR
    * SOLID CASH FLOW FROM OPERATIONS EUR 68 MILLION
    * H1 REVENUE EUR 1,287 MILLION; ORGANIC -11.1%
    * WE EXPECT A LOWER CAPEX CASH OUT IN H2 2020 THAN LAST YEAR
    * H1 OPERATING PROFIT (EBITA) EUR 121.7 MILLION;
EBITA-MARGIN 9.5%
    * FOCUS CONTINUES TO BE ON CASH MANAGEMENT, COST
OPTIMISATIONS AND
INNOVATION INITIATIVES
    * H1 NET PROFIT BEFORE AMORTISATION EUR 85.6 MILLION; PER
SHARE
EUR 0.77
    * BUILDING AND CAPACITY EXPANSIONS WILL BE POSTPONED
    * ORDERBOOK END OF JUNE HIGHER THAN LAST YEAR
    * ACCELERATION STRATEGY: ONE-OFF FULL YEAR STRATEGIC
RESTRUCTURING
COST OF APPROX. EUR 40 MILLION WITH AN ANNUAL BENEFIT OF APPROX.
EUR 45 MILLION
    * CONTINUED INVESTMENTS AND INNOVATION INITIATIVES; CAPEX
EUR 53.8
MILLION
    * FROM LAST WEEKS OF MAY WE SEE AN INCREASE IN OUR ORDER
INTAKE
AND SALES - CEO
    * H1 WORKING CAPITAL DECREASED TO EUR 598 MILLION OR 80 DAYS
(1H2019: EUR 640 MILLION OR 82 DAYS)
    * ROCE (BEFORE IFRS 16) DECREASED FROM 15.1% IN H1 2019 TO
11.7%
IN H1 2020
    * MANAGEMENT BOARD PROPOSED TO DECLARE DIVIDEND OF EUR 0.80
SOLELY
IN CASH PER SHARE OF EUR 0.25 PAR VALUE

Source text for Eikon:  ID:nGNE46mrF5 
Further company coverage:  AALB.AS 

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