![](https://www.aluflexpack.com/wp-content/uploads/2024/08/halfyear_report_web.jpg)
21.08.2024.
Aluflexpack AG reports H1 2024 results
Ad hoc announcement pursuant to Article 53 of Listing Rules of SIX Swiss Exchange
Reinach (Aargau), 21 August 2024
- Net sales decreased by 3.6% to €184.0m in H1 2024 (H1 2023: €190.8m), -4.2% organic.[1] Excluding effects from hyperinflation accounting in Türkiye (IAS 29), net sales amounted to €183.1m [2]
- Low single-digit increase in volumes in H1 2024 were more than offset by the negative pricing effect from pass-through mechanisms with customers as a result of lower input costs
- EBITDA before special effects (SE) increased by 5.7% to €26.2m in H1 2024 (H1 2023: €24.8m)[3]
- Year-on-year uplift in EBITDA margin before SE to 14.3% in H1 2024 (H1 2023: 12.7%) driven by operational and market performance
- Cash flow from operations increased to €20.0m (H1 2023: €8.2m); capital expenditures decreased to €13.4m (H1 2023: €15.1m)
- Outlook for 2024 unchanged: net sales excluding IAS 29 of €370-410m and EBITDA before SE of €51-56m; focus on deleveraging and generating free cash flow
Group CEO Johannes Steurer says: “We are very pleased that we have managed to expand our market share in a market environment where demand recovery has been rather slow, underlining our strong position on the market and the high level of trust that our customers have in us. Once demand gains traction, we will be the first in line to benefit from structural growth drivers in our industry. Our extensive R&D efforts over the past years culminated with the development of a unique, fully recyclable packaging solution – a blister pack made entirely of aluminum – which we are aiming to bring onto the market soon. By leveraging our internal expertise, we have also assisted our partners in creating innovative products with significant market potential, such as a reclosable end for aluminium cans. With an integrated platform in place, a promising sales pipeline and recent expansion into attractive new geographic markets such as North Africa and the USA, we remain committed to capitalising on the growth opportunities that lie ahead.”
To read the full ad hoc announcement use the following link: https://www.aluflexpack.com/wp-content/uploads/2024/08/Aluflexpack-AG-reports-its-H1-2024-results.pdf
To read the Interim Report 2024 use the following link: https://www.aluflexpack.com/wp-content/uploads/2024/08/Half-year-report-2024-1.pdf
[1] Organic net sales equal Group reported net sales less net sales from the Tunisian subsidiary Helioflex, which was acquired on 24 April 2024. From January to June 2024 the effects of the Helioflex consolidation on Group’s reported net sales amounted to €1.1m.
[2] As of 30 June 2022, Aluflexpack is required to apply IAS 29 “Financial Reporting in Hyperinflationary Economies” for its operations in Türkiye. The application of IAS 29 includes the adoption of IAS 21 “Effects of Change in Foreign Exchange Rates”. A detailed reconciliation of reported and adjusted figures can be found on pages 19-22 of the Interim Report 2024.
[3] EBITDA before special effects (SE) refers to operating profit before interest, taxes, depreciation and amortisation adjusted for costs and gains considered by management to be non-recurring and/or non-operational. A detailed reconciliation can be found on page 20 of the Interim Report 2024.