New Risk • May 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €36.74, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Machinery industry in Europe. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at €50.26 per share. Upcoming Dividend • Apr 06
Upcoming dividend of €1.15 per share Eligible shareholders must have bought the stock before 13 April 2026. Payment date: 07 May 2026. Payout ratio and cash payout ratio are on the higher end at 84% and 82% respectively. Trailing yield: 3.8%. Lower than top quartile of Austrian dividend payers (4.4%). Higher than average of industry peers (2.5%). Declared Dividend • Mar 16
Dividend increased to €1.15 Dividend of €1.15 is 1.8% higher than last year. Ex-date: 13th April 2026 Payment date: 7th May 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 59% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 13
Vexve Oy acquired BROEN A/S from Aalberts N.V. (ENXTAM:AALB). Vexve Oy agreed to acquire BROEN A/S from Aalberts N.V. (ENXTAM:AALB) on December 1, 2025.
For the period ending December 31, 2024, BROEN A/S reported total revenue of €82 million.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is January 1, 2026 to June 30, 2026.
Vexve Oy completed the acquisition of BROEN A/S from Aalberts N.V. (ENXTAM:AALB) on March 11, 2026. Aalberts N.V. announces the successful completion of regulatory approvals and closing conditions. Thomas Holst Laursen, Frederik Jastrup Brodersen, Emma Louise Teisen and Kirstine Juel Månsson of Plesner Advokatpartnerselskab act as Legal advisor for Aalberts N.V. Jesper Schultz Larsen, Julie Leonhardt, Emil Lund Lauritzen, Mikkel Schäfer and Rose Marie Silau of Bruun & Hjejle of legal advisor for Vexve Oy. Announcement • Feb 26
Aalberts N.V. Proposes Cash Dividend for 2025 Aalberts N.V. announced the General Meeting, proposed a cash dividend of EUR 1.15 over 2025. New Risk • Oct 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 5.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (5.3% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.9% net profit margin). Announcement • Sep 22
Aalberts N.V.(ENXTAM:AALB) dropped from FTSE All-World Index (USD) Aalberts N.V.(ENXTAM:AALB) dropped from FTSE All-World Index (USD) Reported Earnings • Jul 25
First half 2025 earnings released: EPS: €1.10 (vs €1.35 in 1H 2024) First half 2025 results: EPS: €1.10 (down from €1.35 in 1H 2024). Revenue: €1.56b (down 3.8% from 1H 2024). Net income: €120.6m (down 19% from 1H 2024). Profit margin: 7.7% (down from 9.2% in 1H 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Jul 25
Aalberts N.V. to Report Q1, 2026 Results on May 01, 2026 Aalberts N.V. announced that they will report Q1, 2026 results on May 01, 2026 New Risk • Jul 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 4.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (4.2% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.7% net profit margin). Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €27.18, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Machinery industry in Europe. Total loss to shareholders of 26% over the past three years. Announcement • Jul 24
Aalberts N.V. Provides Earnings Guidance for the Second Half of the 2025 Aalberts N.V. provided earnings guidance for the second half of the 2025. For the period, based on the current end market dynamics and uncertainties, the company do not expect an organic revenue growth improvement in the second half of the year. Announcement • Jul 17
Aalberts N.V. (ENXTAM:AALB) acquired 100% shares in Geo-Flo Corporation. Aalberts N.V. (ENXTAM:AALB) acquired 100% shares in Geo-Flo Corporation on July 17, 2025. The acquisition will be financed from existing credit facilities. For the period ending December 31, 2024, Geo-Flo Corporation reported total revenue of approximately $15 million, with over 25 employees. The transaction will directly contribute to the earnings per share of Aalberts N.V.
Aalberts N.V. (ENXTAM:AALB) completed the acquisition of 100% shares in Geo-Flo Corporation on July 17, 2025. Announcement • May 01
Aalberts N.V. (ENXTAM:AALB) completed the acquisition of 100% shares of Paulo Heat Treating, Metal Finishing and Brazing. Aalberts N.V. (ENXTAM:AALB) agreed to acquire 100% shares of Paulo Heat Treating, Metal Finishing and Brazing on December 27, 2024. The acquisition will directly contribute to the earnings per share and will be financed from existing credit facilities. For the period ending December 31, 2023, Paulo Heat Treating, Metal Finishing and Brazing reported total revenue of $105 million. The experienced management of Paulo will work closely with the management of Aalberts Surface Technologies in North America.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is in the second quarter of 2025. Robert W. Baird & Co. Incorporated acted as financial advisor to Paulo Heat Treating, Metal Finishing and Brazing.
Aalberts N.V. (ENXTAM:AALB) completed the acquisition of 100% shares of Paulo Heat Treating, Metal Finishing and Brazing on May 1, 2025. The transaction has been approved by the regulatory board/committee. Upcoming Dividend • Apr 07
Upcoming dividend of €1.13 per share Eligible shareholders must have bought the stock before 14 April 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Austrian dividend payers (5.8%). Lower than average of industry peers (4.9%). New Risk • Apr 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.7% net profit margin). Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: €1.62 (vs €2.86 in FY 2023) Full year 2024 results: EPS: €1.62 (down from €2.86 in FY 2023). Revenue: €3.15b (down 5.3% from FY 2023). Net income: €179.1m (down 43% from FY 2023). Profit margin: 5.7% (down from 9.5% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 12% per year. Announcement • Feb 27
Aalberts N.V. to Report Fiscal Year 2025 Results on Feb 26, 2026 Aalberts N.V. announced that they will report fiscal year 2025 results on Feb 26, 2026 Announcement • Jan 17
Aalberts N.V. to Report First Half, 2025 Results on Jul 24, 2025 Aalberts N.V. announced that they will report first half, 2025 results on Jul 24, 2025 Announcement • Dec 27
Aalberts N.V. (ENXTAM:AALB) agreed to acquire 100% shares of Paulo Heat Treating, Metal Finishing and Brazing. Aalberts N.V. (ENXTAM:AALB) agreed to acquire 100% shares of Paulo Heat Treating, Metal Finishing and Brazing on December 27, 2024. The acquisition will directly contribute to the earnings per share and will be financed from existing credit facilities. For the period ending December 31, 2023, Paulo Heat Treating, Metal Finishing and Brazing reported total revenue of $105 million. The experienced management of Paulo will work closely with the management of Aalberts Surface Technologies in North America.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is in the second quarter of 2025. Announcement • Oct 25
Aalberts N.V. Announces Arno Monincx Will Not Be Reappointed as Chief Financial Officer, Effective 10 April 2025 Aalberts N.V. announced that Arno Monincx has been almost 17 years at Aalberts, of which 8 years as Management Board member and 6 years as Chief Financial Officer. The Supervisory Board and Arno Monincx have mutually agreed that after the General Meeting he will not be reappointed as Chief Financial Officer. Arno will remain Chief Financial Officer and member of the Management Board until 10 April 2025 and will thereafter remain as advisor to the Management Board for a period of 1 year to ensure a smooth transition. Reported Earnings • Jul 29
First half 2024 earnings released: EPS: €1.35 (vs €1.45 in 1H 2023) First half 2024 results: EPS: €1.35 (down from €1.45 in 1H 2023). Revenue: €1.62b (down 5.7% from 1H 2023). Net income: €149.2m (down 6.7% from 1H 2023). Profit margin: 9.2% (down from 9.3% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 16
CFO & Member of Management Board recently sold €493k worth of stock On the 13th of June, Arno Monincx sold around 12k shares on-market at roughly €42.39 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arno has been a net seller over the last 12 months, reducing personal holdings by €940k. Upcoming Dividend • May 20
Upcoming dividend of €1.13 per share Eligible shareholders must have bought the stock before 27 May 2024. Payment date: 20 June 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Austrian dividend payers (5.7%). Lower than average of industry peers (2.7%). Reported Earnings • Apr 12
Full year 2023 earnings released: EPS: €2.86 (vs €2.87 in FY 2022) Full year 2023 results: EPS: €2.86 (down from €2.87 in FY 2022). Revenue: €3.32b (up 2.9% from FY 2022). Net income: €315.8m (flat on FY 2022). Profit margin: 9.5% (in line with FY 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Recent Insider Transactions • Apr 05
CFO & Member of Management Board recently sold €407k worth of stock On the 2nd of April, Arno Monincx sold around 9k shares on-market at roughly €45.22 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Arno has been a net seller over the last 12 months, reducing personal holdings by €446k. Declared Dividend • Feb 24
Dividend increased to €1.13 Dividend of €1.13 is 1.8% higher than last year. Ex-date: 27th May 2024 Payment date: 20th June 2024 Dividend yield will be 3.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: €2.86 (vs €2.87 in FY 2022) Full year 2023 results: EPS: €2.86 (down from €2.87 in FY 2022). Revenue: €3.32b (up 2.9% from FY 2022). Net income: €315.8m (flat on FY 2022). Profit margin: 9.5% (in line with FY 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 22
Aalberts N.V., Annual General Meeting, May 27, 2025 Aalberts N.V., Annual General Meeting, May 27, 2025. Announcement • Feb 08
Aalberts N.V. to Report Fiscal Year 2023 Final Results on Apr 11, 2024 Aalberts N.V. announced that they will report fiscal year 2023 final results on Apr 11, 2024 Announcement • Aug 03
An unknown buyer signed an agreement to acquire DSI Getränkearmaturen GmbH from Aalberts N.V. (ENXTAM:AALB). An unknown buyer signed an agreement to acquire Disptek Group from Aalberts N.V. (ENXTAM:AALB) on August 1, 2023. Transaction is expected to close on September 1, 2023. Disptek generates an annual revenue of approximately €75 million. Recent Insider Transactions • May 28
CEO & Member of the Management Board recently sold €408k worth of stock On the 24th of May, Wim Pelsma sold around 10k shares on-market at roughly €40.80 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €944k. Wim has been a net seller over the last 12 months, reducing personal holdings by €6.9m. Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: €2.87 (vs €3.26 in FY 2021) Full year 2022 results: EPS: €2.87 (down from €3.26 in FY 2021). Revenue: €3.23b (up 8.4% from FY 2021). Net income: €317.3m (down 12% from FY 2021). Profit margin: 9.8% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 25
CEO & Member of the Management Board recently sold €850k worth of stock On the 20th of March, Wim Pelsma sold around 20k shares on-market at roughly €42.49 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €974k. Wim has been a net seller over the last 12 months, reducing personal holdings by €6.1m. Recent Insider Transactions • Mar 13
CEO & Member of the Management Board recently sold €944k worth of stock On the 6th of March, Wim Pelsma sold around 20k shares on-market at roughly €47.20 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €974k. Wim has been a net seller over the last 12 months, reducing personal holdings by €5.2m. Recent Insider Transactions • Mar 08
CEO & Member of the Management Board recently sold €974k worth of stock On the 27th of February, Wim Pelsma sold around 21k shares on-market at roughly €46.40 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Wim has been a net seller over the last 12 months, reducing personal holdings by €2.4m. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: €2.87 (vs €3.26 in FY 2021) Full year 2022 results: EPS: €2.87 (down from €3.26 in FY 2021). Revenue: €3.23b (up 8.4% from FY 2021). Net income: €317.3m (down 12% from FY 2021). Profit margin: 9.8% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to €43.23, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Machinery industry in Europe. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €47.41 per share. Announcement • Jan 18
NRW.BANK and PINOVA Capital GmbH acquired Vti Ventil Technik Gmbh NRW.BANK and PINOVA Capital GmbH acquired Vti Ventil Technik Gmbh on January 17, 2023. Hendrik Hirsch of CMS Legal provided comprehensive legal advice to Pinova on this transaction.NRW.BANK and PINOVA Capital GmbH completed the acquisition of Vti Ventil Technik Gmbh on January 17, 2023. Announcement • Jul 23
Aalberts N.V. to Report Fiscal Year 2022 Final Results on Apr 06, 2023 Aalberts N.V. announced that they will report fiscal year 2022 final results on Apr 06, 2023 Reported Earnings • Jul 22
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €146.0m from profit in 1H 2021). Profit margin: (down from 9.7% in 1H 2021). Over the next year, revenue is forecast to grow 2.4%, compared to a 14% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
Aalberts N.V. (ENXTAM:AALB) agreed to acquire KML Linear Motion Technology GmbH. Aalberts N.V. (ENXTAM:AALB) agreed to acquire KML Linear Motion Technology GmbH on July 5, 2022. KML generates an annual revenue of approximately €35 million with 120 employees. Andreas Wiedrich, co-founded KML, and his management team will continue to manage and grow both companies. Recent Insider Transactions • Jun 09
CEO & Member of the Management Board recently sold €721k worth of stock On the 2nd of June, Wim Pelsma sold around 15k shares on-market at roughly €48.05 per share. This was the largest sale by an insider in the last 3 months. Wim has been a seller over the last 12 months, reducing personal holdings by €502k. Upcoming Dividend • May 16
Upcoming dividend of €1.65 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 01 July 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Austrian dividend payers (4.6%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €42.32, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Machinery industry in Europe. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €82.67 per share. Announcement • Feb 26
Aalberts N.V., Annual General Meeting, May 11, 2023 Aalberts N.V., Annual General Meeting, May 11, 2023, at 11:00 Central European Standard Time. Announcement • Feb 25
Aalberts N.V. to Report Fiscal Year 2022 Results on Feb 23, 2023 Aalberts N.V. announced that they will report fiscal year 2022 results Pre-Market on Feb 23, 2023 Announcement • Feb 05
Lion Equity Holdings II, Llc managed by Lion Equity Partners, LLC acquired Elkhart Tri-Went Industrial from Aalberts N.V. (ENXTAM:AALB). Lion Equity Holdings II, Llc managed by Lion Equity Partners, LLC acquired Elkhart Tri-Went Industrial from Aalberts N.V. (ENXTAM:AALB) on February 4, 2022.
Lion Equity Holdings II, Llc managed by Lion Equity Partners, LLC completed the acquisition of Elkhart Tri-Went Industrial from Aalberts N.V. (ENXTAM:AALB) on February 4, 2022. Announcement • Jan 27
Aalberts N.V. (ENXTAM:AALB) agreed to acquire isel Germany AG. Aalberts N.V. (ENXTAM:AALB) agreed to acquire isel Germany AG on January 27, 2022. The acquisition will be financed from existing credit facilities. Isel has an annual turnover of €35 million and employees 200 people. The management team of ISEL will continue to manage closely together with the management team of Aalberts advanced mechatronics in Raunheim, Germany. The acquisition will directly contribute to the earnings per share of Aalberts. Announcement • Dec 14
An unknown buyer reached an agreement to acquire Standard Hidráulica S.A. from Aalberts N.V. (ENXTAM:AALB). An unknown buyer reached an agreement to acquire Standard Hidráulica S.A. from Aalberts N.V. (ENXTAM:AALB) on December 14, 2021. Standard Hidráulica S.A. generates annual revenue of €90 million. Announcement • Sep 21
Aalberts N.V. (ENXTAM:AALB) completed the acquisition of Premier Thermal Solutions LLC. Aalberts N.V. (ENXTAM:AALB) signed a definitive agreement to acquire Premier Thermal Solutions LLC on July 16, 2021. The acquisition will be financed from existing credit facilities. The results of Premier Thermal Solutions will be consolidated after finalizing all necessary formalities. For the year ended 2020, Premier Thermal Solutions reported revenues of $60 million. Steven Wyatt and the current management team will continue to lead Premier Thermal Solutions LLC. The acquisition will directly contribute to the earnings per share.
Aalberts N.V. (ENXTAM:AALB) completed the acquisition of Premier Thermal Solutions LLC on September 20, 2021. Announcement • Aug 20
North American Pipe Corporation acquired LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB). North American Pipe Corporation entered into an equity purchase agreement to acquire LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB) for approximately $250 million on July 4, 2021. The consideration is subject to certain closing date adjustments as set forth in the Purchase Agreement. In related transaction, Aalberts has divested Adex B.V. Lasco Fittings, Inc. generating an annual revenue of approximately $150 million. Lasco's 560 employees will be retained and transfer to Westlake. As of August 5, 2021, Westlake Chemical Corporation entered into an underwriting agreement with respect to the issuance and sale in an underwritten public offering of $300 million aggregate principal amount of its 0.875% senior notes due 2024, $350 million aggregate principal amount of its 2.875% senior notes due 2041, $600 million aggregate principal amount of its 3.125% senior notes due 2051 and $450 million aggregate principal amount of its 3.375% senior notes due 2061. Westlake Chemical intends to use the net proceeds from the Offering to fund the acquisition of Lasco Fittings. The proposed transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close during third quarter of 2021. As of August 3, 2021, transaction is expected to close in the second half of 2021.
North American Pipe Corporation acquired LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB) on August 19, 2021. LASCO Fittings will continue to operate a 48-acre, 500,000 square foot manufacturing and distribution facility in Brownsville, Tennessee, northeast of Memphis. Reported Earnings • Jul 24
First half 2021 earnings released: EPS €1.32 (vs €0.58 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €1.51b (up 17% from 1H 2020). Net income: €146.0m (up 129% from 1H 2020). Profit margin: 9.7% (up from 5.0% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 17% share price gain to €51.76, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 23x in the Machinery industry in Europe. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.45 per share. Announcement • Jul 06
An unknown buyer agreed to acquire LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB). An unknown buyer agreed to acquire LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB) on July 5, 2021. In related transaction, Aalberts has divested Adex B.V. Lasco Fittings, Inc. generating an annual revenue of approximately $150 million. Upcoming Dividend • May 25
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 02 July 2021. Trailing yield: 1.3%. Lower than top quartile of Austrian dividend payers (3.2%). Lower than average of industry peers (1.8%). Recent Insider Transactions • Apr 10
CEO & Member of the Management Board recently bought €444k worth of stock On the 6th of April, Wim Pelsma bought around 10k shares on-market at roughly €44.39 per share. This was the largest purchase by an insider in the last 3 months. Wim has been a buyer over the last 12 months, purchasing a net total of €76k worth in shares. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 4.5%, compared to a 9.3% growth forecast for the Machinery industry in Austria. Reported Earnings • Feb 26
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €2.61b (down 8.1% from FY 2019). Net income: €117.3m (down 48% from FY 2019). Profit margin: 4.5% (down from 7.9% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Feb 09
New 90-day high: €40.39 The company is up 19% from its price of €34.05 on 10 November 2020. The Austrian market is up 30% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €58.15 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €37.94 The company is up 14% from its price of €33.41 on 09 October 2020. The Austrian market is up 28% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €57.95 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €35.95 The company is up 10.0% from its price of €32.76 on 18 August 2020. The Austrian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €49.79 per share. Is New 90 Day High Low • Oct 29
New 90-day low: €29.26 The company is down 5.0% from its price of €30.68 on 30 July 2020. The Austrian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €46.08 per share. Is New 90 Day High Low • Oct 12
New 90-day high: €35.12 The company is up 19% from its price of €29.62 on 14 July 2020. The Austrian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €46.83 per share. 