Aalberts NV
F:AACA
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Aalberts NV
F:AACA
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Aalberts NV
Aalberts is an industrial company that makes the technical parts hidden inside buildings and machines. Its main products include valves, pipe and connection systems, heating and cooling controls, and precision metal and surface treatments. It also works on specialist manufacturing for customers that need tightly engineered components. Its customers are mainly contractors, distributors, equipment makers, and industrial manufacturers. In buildings, Aalberts sells products that help move water, heat, and air safely and efficiently. In industry, it supplies parts and manufacturing services that become part of larger machines, production systems, and semicon-related equipment. Aalberts makes money by selling these components, systems, and manufacturing services to business customers. What makes its role different is that it sits in the middle of the value chain: it does not build finished homes or consumer products, but it supplies the critical parts and processes that those products depend on. That gives it a steady industrial profile tied to construction, climate control, and manufacturing demand.
Aalberts is an industrial company that makes the technical parts hidden inside buildings and machines. Its main products include valves, pipe and connection systems, heating and cooling controls, and precision metal and surface treatments. It also works on specialist manufacturing for customers that need tightly engineered components.
Its customers are mainly contractors, distributors, equipment makers, and industrial manufacturers. In buildings, Aalberts sells products that help move water, heat, and air safely and efficiently. In industry, it supplies parts and manufacturing services that become part of larger machines, production systems, and semicon-related equipment.
Aalberts makes money by selling these components, systems, and manufacturing services to business customers. What makes its role different is that it sits in the middle of the value chain: it does not build finished homes or consumer products, but it supplies the critical parts and processes that those products depend on. That gives it a steady industrial profile tied to construction, climate control, and manufacturing demand.
Record Results: Aalberts achieved over €3 billion in revenue and €500 million EBITA for the first time, with both metrics up 10% year-on-year and net profit rising to €372 million.
Organic Growth: The group delivered 8.7% organic revenue growth, significantly above its long-term target range of 4–6%.
Margin Resilience: The EBITA margin improved to 15.5%, and the added-value margin rose to 62.4%, even amid high inflation and supply chain challenges.
Inventory Buildup & Cash Flow: Inventories and net working capital increased sharply to secure growth and market share, causing free cash flow to drop to €168 million from €310 million last year. Management expects normalization in coming years.
Strong Order Book: The order book at year-end was up 37%, supporting a positive outlook for 2023, especially in semicon efficiency and renovation-driven building markets.
Operational Excellence Investment: €25 million invested in operational excellence is expected to yield recurring annual savings of €12.5 million in both 2023 and 2024.
Dividend Raised: Proposed dividend per share increased 10% to €1.11.
Sustainability Progress: 68% of revenue now linked to sustainable development goals, and Scope 1 & 2 emissions already reduced by 29% vs. 2018.
