Aalberts N.v. · EURONEXT:AALB
Aalberts — Aalberts Indus Nv Ord — H1 2026 Earnings Presentation
44 slides from Aalberts's earnings presentation, Jul 23, 2026
Slide 1: first half-year results 2026
first half-year results 2026 Utrecht, 23 July 2026
Slide 2: today's agenda
today’s agenda business financial strategy outlook Q&A highlights development in action 1 2 3 4 5 Stéphane Simonetta Frans den Houter Rutger Relker CEO CFO director investor relations 23 July 2026 Aalberts N.V. | first half-year results 2026 2
Slide 3: key message
key message Stéphane Simonetta chief executive officer
Slide 4: key message
key message 1 positive organic revenue growth in all three segments, particularly in semicon 2 improved EBITA margin in all three segments 3 strong contribution to growth and margin from rebalancing portfolio (acquisitions and divestments), integration plans progressing well 4 positive end market dy
Slide 5: first half-year 2026 performance
first half-year 2026 performance revenue EBITA FCF (in EUR million) (in EUR million) (in EUR million) 1,560 1H25: 1,557 225 1H25: 210 89 1H25: 56 organic revenue growth EBITA margin EPS (% of revenue) (% of revenue) (in EUR) 5.0% 1H25: (3.2%) 14.4% 1H25: 13.5% 1.47 1H25: 1.38 improved organic revenu
Slide 6: operational development
operational development Stéphane Simonetta chief executive officer
Slide 7: Aalberts is well positioned to four global tailwinds
Aalberts is well positioned to four compelling global tailwinds urbanisation technology reshoring decarbonisation strong need for acceleration comfortable and healthy regionalisation of growing demand for buildings, sustainable exponential need for critical manufacturing energy efficiency and transp
Slide 8: revenue breakdown first half-year 2026
revenue breakdown first half-year 2026 Europe 48% America semicon | 21% building | 26% 65% 1H25: 51% 1H25: 71% 1H25: 14% 1H25: 23% other APAC, Middle East, Africa non- 9% residential lithography lithography 1H25: 6% EUR industrial 1,560 million applications commercial SDG impact | 73% aerospace, pow
Slide 9: segment reporting
segment reporting building industry semicon revenue (in EUR million) 743 1H25: 801 489 1H25: 546 336 1H25: 220 2.9 6.4 9.2 organic revenue growth (% of revenue) 1H25: 1.4 1H25: (4.9) 1H25: (13.4) EBITA margin (% of revenue) 13.5 1H25: 12.9 18.6 1H25: 16.8 14.2 1H25: 11.5 23 July 2026 Aalberts N.V. |
Slide 10: building | operational development
building | operational development highlights organic growth technologies » Q2 organic revenue growth 4.4% » growth in valves » high order book boiler room technology geography » connection systems challenged » continued high growth in America » mixed market conditions in Europe end markets • improv
Slide 11: industry | operational development
industry | operational development highlights organic growth technologies » Q2 organic revenue growth 7.0% » strong growth in surface technology and extrusion » moderate growth in industrial products geography » growth in Europe and America, supported by end markets geographical footprint expansions
Slide 12: semicon | operational development
semicon | operational development highlights organic growth technologies » Q2 organic revenue growth 16.4% » strong growth in precision frames & modules, mechatronic technology and system build and qualification geography » high growth in Europe and Southeast Asia end markets » Dronten (NL) greenfie
Slide 13: environmental performance
environmental performance SDG rate scope 1 and 2 CO2 intensity (in %) (tonnes of CO2 / EUR million revenue) 73% -6.6% 2030 target >70% 2030 target on track target 2026 1H2026 73% 2026 80 1H2026 -6.6%* 2025 71% 2025 1H2025 86 2024 71% *organic improvement we have made good progress on environmental p
Slide 14: financial development
financial development Frans den Houter chief financial officer
Slide 15: financial development
financial development revenue EBITA margin capital expenditure free cash flow (in EUR million) (in % before exceptionals) (in EUR million) (in EUR million before exceptionals) organic +5.0% +0.9 (29)% +33 100 89 1,557 1,560 14.4 13.5 71 56 210 225 19.6% 29.3% 1H2025 1H2026 1H2025 1H2026 1H2025 1H202
Slide 16: revenue bridge
revenue bridge 135 1,557 68 1,560 -178 -21 actual 1H2025 acquisitions divestments currency organic actual 1H2026 we realised a strong organic revenue growth of 5.0% 23 July 2026 Aalberts N.V. | first half-year results 2026 16
Slide 17: EBITA bridge
EBITA bridge before exceptionals 24 9 225 -16 -3 210 13.5% 14.4% actual 1H2025 acquisitions divestments currency organic actual 1H2026 portfolio rebalancing and organic performance improve EBITA 23 July 2026 Aalberts N.V. | first half-year results 2026 17
Slide 18: free cash flow bridge
free cash flow bridge before exceptionals 35 8 89 -25 15 56 19.6% 29.3% actual 1H2025 EBITDA CAPEX cash out NWC other actual 1H2026 improved free cash flow 19.6% and 29.3% correspond to free cash flow conversion ratio 23 July 2026 Aalberts N.V. | first half-year results 2026 18
Slide 19: EPS bridge
EPS bridge before exceptionals 0.18 0.03 1.47 -0.09 0.05 -0.03 -0.03 1.38 -0.02 actual 1H2025 acquisitions divestments finance cost tax (%) currency organic share buyback actual 1H2026 portfolio rebalancing and organic performance increase EPS 23 July 2026 Aalberts N.V. | first half-year results 202
Slide 20: segment reporting
segment reporting holding | building industry semicon eliminations revenue (in EUR million) 743 489 336 (7.4) 1H25: 801 1H25: 546 1H25: 220 1H25: (9.6) organic revenue growth 2.9 6.4 9.2 (% of revenue) 1H25: 1.4 1H25: (4.9) 1H25: (13.4) EBITA (in EUR million) 100 91 48 (13.6) 1H25: (10.4) 1H25: 103
Slide 21: exceptional costs
exceptional costs » exceptional costs reported in first half-year results decision to leave Russia in 2024 » first half-year costs EUR 3.1 million » further progress expected in second half-year 23 July 2026 Aalberts N.V. | first half-year results 2026 21
Slide 22: balance sheet items
balance sheet items net debt leverage ratio equity solvability (in EUR million) (net debt / EBITDA) (in EUR million) (total equity as a % of total assets) 1,068 1.9 2,417 54.4 1H25: 971 1H25: 1.6 1H25: 2,456 1H25: 55.7 capital employed ROCE net working capital days net working capital (in EUR millio
Slide 23: strategy in action
strategy in action Stéphane Simonetta chief executive officer
Slide 24: our strategy 'thrive 2030'
our strategy ‘thrive 2030’ refocus. rebalance. recharge. our playing field four global tailwinds strategic priorities 1 profitable growth urbanisation semicon building 2 leadership positions technology acceleration reshoring 3 the Aalberts way decarbonisation 4 sustainable commitments industry engin
Slide 25: 'thrive 2030' – deployment strategic actions
‘thrive 2030’ – deployment strategic actions profitable leadership the Aalberts sustainable 1 2 3 4 growth positions way commitments custom hyperscale data centre GVT, semicon acquisition, entry supplier engagement day for cooling solutions in Southeast Asia, back-end building segment PV panels on W
Slide 26: building data centres strong orderbook traction
building data centres strong orderbook traction flow control and valve technologies » strong orderbook growth driven by rapid innovations, accelerating business wins » data centres to represent ~2% of the building segment revenue, with expected double- digit growth » total addressable market is EUR
Slide 27: industry greenfields and expansions driving profitable organic growth
industry greenfields and expansions driving profitable organic growth 1 1 1 1 heat treatment surface treatment surface treatment surface treatment 1 Eindhoven (NL) Monterrey (MX) Villers-Cotterêts (FR) Eindhoven Tatabánya(NL), (HU) expansion greenfield expansion expansion greenfield supporting highe
Slide 28: semicon footprint capacity expansion on track
semicon footprint capacity expansion on track 1 1 precision frames & modules system build & qualifications Dronten (NL) Penang (MY) greenfield expansion new building and capacity expansion for production capacity expansion for production ramp up expected in 2027 back-end customer demand increase 23
Slide 29: rebalancing portfolio on track, further progress expected
rebalancing portfolio on track, further progress expected acquisition focus improve optimise cash invest building or divest and margins and grow » adjacencies ‘source to emitter’ » footprint expansion USA 4 acquisitions semicon building (Geo-Flo) market attractiveness » footprint expansion Southeast
Slide 30: operational excellence first half-year 2026 progress
operational excellence first half-year 2026 progress footprint inventory operations capital optimisation reduction productivities expenditure 1 site closed EUR 17 million ~ EUR 6 million 29% reduction reduction in inventories saving focus on synergies improved operational focus on assets across busi
Slide 31: 2026 outlook
2026 outlook aalberts
Slide 32: looking forward to the second half-year 2026
looking forward to the second half-year 2026 building industry semicon market o continued growth expected in o aerospace, power generation and o accelerating demand for advanced dynamics America, commercial buildings, defence high growth outlook chips both in logic and memory increased order book fo
Slide 33: summary
summary 1 first half-year with improved organic growth and EBITA margin in all three segments 2 entering second half-year with positive momentum and healthy orderbook 3 confident to deliver a full year with improved organic growth and EBITA margin 4 portfolio rebalancing on track, further progress e
Slide 34: questions and answers
questions and answers Stéphane Simonetta Frans den Houter Rutger Relker CEO CFO director investor relations 23 July 2026 Aalberts N.V. | first half-year results 2026 34
Slide 35: appendix
appendix aalberts.com/investors aalberts.com/investors
Slide 36: Aalberts a glance | full year 2025
Aalberts a glance | full year 2025 revenue EBITA FCF mission-critical active in locations worldwide (EUR million) (EUR million) (EUR million) people countries 3,091 410 361 12k+ 125+ 50+ building industry semicon we engineer integrated solutions for we enable industrial customers to we provide front
Slide 37: our strategy 'thrive 2030'
our strategy ‘thrive 2030’ refocus. rebalance. recharge. four global tailwinds our playing field strategic priorities urbanisation 1 profitable growth strong need for comfortable and healthy buildings, sustainable » drive organic revenue growth innovation, transportation and business development con
Slide 38: strategic actions
strategic actions » focus on three end markets, delivering customer-centric solutions » drive organic revenue growth with business development and footprint optimisation 1 profitable growth » sustain >20% innovation rate with new products, solutions and digital offerings » double revenue in North Am
Slide 39: portfolio optimisation, 2024-2026 progress
portfolio optimisation, 2024-2026 progress 2024 2025 2026-2030 ‘thrive 2030’ CMD ‘thrive 2030’ kick-off building and industry USA extension, PMI execution, continue to execute semicon Southeast Asia entry, European strategy with value accretive divestments in building and industry acquisitions M&A S
Slide 40: free cash flow
free cash flow in EUR million (before exceptionals) 1H2026 1H2025 delta EBITDA 299.6 287.5 12.1 result on sale of equipment 0.2 0.1 0.1 gain on disposal of subsidiaries 0.8 0.0 0.8 changes in provisions (1.9) (19.7) 17.8 changes in working capital (138.2) (112.9) (25.3) cash flow from operations 160
Slide 41: condensed consolidated income statement
condensed consolidated income statement in EUR million (before exceptionals) 1H2026 1H2025 revenue 1,560.4 1,557.0 EBITDA 302.7 287.5 depreciation (77.5) (77.7) EBITA 225.2 209.8 share in result of associates 1.5 0.0 net finance cost (22.4) (18.5) income tax expense (46.3) (40.2) non-controlling int
Slide 42: condensed consolidated balance sheet
condensed consolidated balance sheet In EUR million 30.06.2026 30.06.2025 total non-current assets 3,004.0 2,936.8 total current assets 1,441.1 1,476.3 total assets 4,445.1 4,413.1 total equity 2,417.4 2,456.3 total non-current liabilities 1,000.9 1,062.8 total current liabilities 1,026.8 894.0 tota
Slide 43: financial calendar
financial calendar financial calendar date event AEX inclusion gong ceremony 22 October 2026 publication results Q3 2026 22 June 2026 23 February 2027 publication results full year 2026 8 April 2027 General Meeting 29 April 2027 publication results Q1 2027 investor conferences second half-year 2026
Slide 44: disclaimer
disclaimer This document and related presentation is for information purposes only and does not and is not intended to, constitute or form part of, and should not be construed as, an offer, an invitation or a recommendation to purchase, sell or subscribe for, or otherwise acquire, any Aalberts secur
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