In the third quarter Aalberts realised EUR 772.5 million revenue, which translates into 1.9% organic revenue decline compared to the third quarter of last year. We realised EUR 96.3 million EBITA or 12.5% EBITA margin.
In challenging market environments, we continued our focus on added value margin protection, cost out, operations excellence programmes, footprint optimisation, purchase savings and inventory optimisation initiatives to drive efficiency, offset volume pressure and preserve profitability. We continue to invest in strategic growth initiatives and innovation to support long-term competitiveness.
Our focus on cash flow from operations improved free cash flow due to lower inventories and CAPEX reduction.
We made good progress on portfolio optimisation with the intended acquisition of GVT in the Southeast Asian semicon market, which we expect to close in the coming weeks. The integration of Paulo and Geo-Flo in North America is progressing well. We continue to work on divestment opportunities in our building and industry segments.
Stéphane Simonetta, CEO commented: “Our performance remains impacted by the softness of our end markets. Our focus has been on controlling what we can and maintaining strong service levels for our customers. The actions we are taking will strengthen our performance when end-market conditions improve.
EBITA margin remains challenging, especially in our building segment.
We expect our full year EBITA margin to be around 13%.”
contact
+31 (0)30 3079 302 (from 8:00 am CEST)
investors@aalberts.com
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