Aalberts N.V.

Latest Results (17.09.2026):

Aalberts N.V. — H1 2026 (first half of 2026): the company reported stable headline revenue of EUR 1,560m, with organic revenue growth of 5.0%, EBITA before exceptionals of EUR 225.2m (14.4% margin) and net profit of EUR 122.0m; management cites improved organic growth and margin across its three segments and expects full‑year organic growth and EBITA margin to improve versus last year.

Key figures

Revenue EUR 1,560.4m (0% headline change vs 1H2025); organic revenue +EUR 67.5m (+5.0%). EBITA before exceptionals EUR 225.2m (+7% vs 1H2025) with a 14.4% EBITA margin (1H2025: 13.5%). Net profit EUR 122.0m; basic EPS 1.14. Earnings per share before amortisation (before exceptionals) EUR 1.47 (1H2025: EUR 1.38).

Profitability & cash flow

EBITA improvement driven by pricing, operational-excellence and drop-through on higher organic revenue. Free cash flow before exceptionals EUR 88.6m (conversion ~29% of adjusted EBITDA). Cash CAPEX reported ~EUR 71m (group capex cash out ~EUR 75m in cash flow table).

Balance sheet & leverage

Net debt EUR 1,067.8m; leverage ratio 1.9x (1H2025: 1.6x). Rolling 12‑month return on capital employed before exceptionals 12.5% (1H2025: 13.3%). Solvency ~54.4%.

Segment performance

Building: revenue EUR 743.0m (‑7% headline), organic +2.9%, EBITA EUR 100.4m (13.5% margin). Industry: revenue EUR 489.1m (‑10% headline), organic +6.4%, EBITA EUR 90.9m (18.6% margin). Semicon: revenue EUR 335.7m (+53% headline), organic +9.2%, EBITA EUR 47.5m (14.2% margin) — semicon shows strong order book and AI‑related demand.

M&A, divestments & capital allocation

Acquisitions (Paulo, Geo‑Flo, GVT) added ~EUR 134.8m revenue; divestments (Metalis, Broen, reduced KAN) subtracted ~EUR 177.9m. Broen divestment closed in March 2026. Share buyback programme (EUR 75m) underway: 1,170,011 shares repurchased for EUR 36.8m to 30 June 2026.

Outlook & management comment

Management reports positive momentum, healthy order book (notably data centres and semicon), continued investments in manufacturing capacity, and confidence to deliver a full year with improved organic growth and EBITA margin versus last year under the 'thrive 2030' strategy.