Aliaxis SA (‘Aliaxis’, ‘the Group’ or ‘the Company’), a global leader in the manufacturing and distribution of advanced plastic piping systems, today announced its results for the full year 2016.
Highlights – Financial year ended 31 December 2016:
- Revenue of € 2,949.4 million, a decrease of 0.4% on a constant basis (after foreign exchange effects the decrease was 3.2%)
- Current EBITDA of € 358,8 million, down 9.1%
- Current EBIT of € 243.5 million, down 15.9%
- Net profit of € 108.7 million, down 33.9%, predominately driven by € 28.0 million one-off costs related to transformation and reorganisation initiatives and goodwill impairment of € 22.0 million
- Net financial debt decreased by € 44 million compared to 31 December 2015 – net leverage of 1.3, in line with 2015
- Completed integration of smaller bolt-on acquisition in Australia
- Company-wide transformation and strategy, ‘D.N.A.’ or Developing the New Aliaxis, defined and began journey to become a global integrated industrial group
- Significant investments to further strengthen the organisation and implement D.N.A.
CEO Laurent Lenoir comments on the results: “2016 has been a year where we initiated a significant transformation in our journey to become a global, integrated industrial Group. Overall, our results are in line with historical average, yet down from last year’s record achievement, and are negatively impacted by adverse exchange rate fluctuations, some write-downs in goodwill and inventories and significant investments related to D.N.A. (Developing the New Aliaxis)”.