Azelis Group Nv (AZLGF) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Azaleas half-year 2023 earnings call. As usual, we are joined by Dr. Jochen Müller, who will present the highlights of the first half of the year, and Thijs Bakker, who will take us through the numbers. We will take questions after the presentation, but until then, everyone will be in listen-only mode. We will make a recording of this webcast available for replay on our website later today. As a reminder, this presentation may include forward-looking statements that may be subject to risk and uncertainty. With that, let's start. Over to you, Jochen. Thank you, Pam. Good day, everyone. Thanks for tuning in and joining us for the presentation of our first half 2023 results. We appreciate, especially as we know some of you are just coming back from or about to go to or maybe even are in the middle of your summer holiday. As usual, I will start with an overview of the performance on H1. On to the next slide. In the first six months, our revenues increased by 6% to 2.1 billion, and adjusted EBITDA increased by almost 9% to 263 million. The challenges we experienced in some of our markets have put pressure on organic revenue, which declined by 5%. While the industry faces some headwinds, namely weaker demand in Americas and industrial chemicals, It's also worth reminding that H1 last year reported revenue growth of 54%, of which 28% was organic. So there's still an element of tough comes in the results for H1 2023. Nevertheless, too, we face varying degrees of challenges, some of them are markets. Overall, diversity of our portfolio allows us to mitigate the impact of the current challenges on our business. In addition, we continue to expand our footprint and invest in future growth drivers. Since the beginning of the year, we have acquired six com...