Earnings release
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 1/8 Aliaxis publishes solid H1 2026 results with improved profitability amid continued market complexity Brussels – 2 September 2026 – Aliaxis, a global leader in fluid and energy management systems, today announced its financial results for the six-month period ended 30 June 2026. Despite ongoing market uncertainty and supply chain disruptions, including impacts from the Middle East conflict , the businesses took rapid actions . Pricing adjustments, alongside operational measures, helped mitigate the impact of higher resin and energy costs and supported profitability. The global transformation journey, including a cost reset programme, remains on track and continues to drive long term efficiency and enhance profitability. Highlights – six-month period ended 30 June 2026 • Revenue of €1,844 million, a like-for-like1 increase of 8.0% • Recurring EBITDA (REBITDA) of €289 million, a 39.7% increase on a like-for-like1 basis, versus €206 million in the prior equivalent period • REBITDA margin of 15.6%, up 3.5 pp like-for-like1 • Net profit of €100 million, up by €87 million • Net leverage down 0.3x to 2.2x last-twelve-months (LTM) REBITDA compared to December 2025 Managing Director, Thierry Vanlancker, comments on the first-half results: “These H1 2026 results reflect a solid financial performance, delivering a 3 .5 percentage point improvement in Recurring EBITDA margin to 15.6% while defending our market positions in a challenging market environment . Thanks to the dedication and swift actions of our teams across the Group, we successfully offset increased resin and energy costs, maintained supply continuity and delivered a strong first -half performance. Looking ahead, we expect bottom-line performance to moderate in the second half as pre -buy effects wane and the impact of raw material cost increases are rolling through our accounts. As a result, the whole team stays focussed on disciplined cost management, cash generation, deleveraging and our ongoing transformation initiatives to ensure Aliaxis’ long-term resilience and value creation.” 1 Divestment excluded in all periods, predominantly Opti, Marley Deutschland, businesses in China and Vinilit exit. Impact of FX excluded to reflect underlying performance at constant exchange rate
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 2/8 Divisional Performance Americas Performance strengthened in the Americas, with revenue of €933 million, up 6.4% like- for-like1 versus €877 million in the prior equivalent period. Recurring EBITDA 2 increased significantly to €200 million from €162 million, representing a REBITDA margin of 21 .5% (prior period: 1 8.4%). In North America, profitability improvement was driven by the partial recovery of the Canadian and U.S. markets, the continued ramp -up and recovery of operations in Asheville, together with the sustained benefits of structural cost measures and ongoing business optimisation initiatives. Latin America continued to deliver solid volume growth, underpinned by favourable market dynamics and a leaner, more agile organisational structure. Asia Asia maintained steady growth, with revenue of € 224 million, up 3. 5% like -for-like 1 versus €216 million in the prior equivalent period. REBITDA2 increased to €26 million from €21 million, with REBITDA margin improving to 11. 8% (prior period: 9.8%), reflecting disciplined execution and operational resilience amid softer market conditions and PVC price volatility. EMEA EMEA’s revenue of €414 million was broadly stable year-on-year, up 0.7% like-for-like1 versus € 411 million in the prior equivalent period, reflecting continued challenging market conditions across the region’s construction markets. REBITDA2 increased to €55 million from € 54 million, with REBITDA margin at 13 .2% (prior period: 13. 1%). The full extent of the operating model reset is starting to take effect across the region and cost optimisation, working capital and cash flow remain a priority. Pacific In the Pacific region, revenue rose to €254 million, up 37.5% like -for-like 1 versus €185 million in the prior equivalent period. REBITDA2 increased to €35 million from €8 million, with REBITDA margin at 13.7% (prior period: 4.3%), reflecting the operational recovery following ERP-related disruptions in 2025, complemented by strong customer support that maximised supply continuity during the Middle East crisis. 1 Divestment excluded in all periods, predominantly Opti, Marley Deutschland, businesses in China and Vinilit exit. Impact of FX excluded to reflect underlying performance at constant exchange rate 2 Excluding Management Fees
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 3/8 Consolidated income statement Revenue increased by 8.0% on a like -for-like1 basis to €1,84 4 million, driven by a combination of pricing and volume recovery (notably after ERP go-live and Asheville), pre-buy, and growth in some markets. On a reported basis, revenue increased by 0.2% compared to the prior equivalent period. REBITDA increased by 39.7% on a like -for-like1 basis to €28 9 million, while REBITDA margin improved to 15. 6%, supported by stronger volumes, procurement initiatives, disciplined cost management and continued operational improvements across the Group. Net profit amounted to €100 million, an increase of €87 million compared to the prior equivalent period, reflecting the significant improvement in operating performance. Consolidated balance sheet As of June 2026, working capital stood at € 801 million (82 days), a decrease of € 57 million (2 days) compared to the prior equivalent period. Working capital remains a key focus across the Group, with all regions continuing to strengthen inventory management, planning and forecasting processes while maintaining service levels despite higher unit costs resulting from the Middle East crisis. The Group continues to apply a disciplined approach to capital allocation, prioritising investments that support strategic growth and operational excellence. Net financial debt increased by €59 million to €9 78 million compared to December 2025, predominantly driven by working capital seasonality . Net financial leverage reached 2.2x LTM REBITDA, a decrease of 0.3x compared to December 2025 on the back of REBITDA increase. Outlook for H2 2026 Aliaxis expects external market conditions to remain challenging and unpredictable during the second half of 2026. The anticipated unwinding of pre-buy and temporary margin uplift effects is expected to gradually normalise over the remainder of the year. The Group continues to closely monitor developments concerning trade tariffs in the U.S. and Canada and has measures in place across North America to assess potential impacts and implement mitigating actions, where required. Building on the actions implemented in recent years, Aliaxis remains well positioned to navigate evolving market conditions and emerging uncertainties through its global scale, disciplined cost management, cash generation initiatives and ongoing transformation programme.
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 4/8 Key Financials Consolidated income statement (in € million) 1HY2026 1HY2025 Change Revenue 1,843.9 1,839.6 4.3 REBITDA 288.6 216.8 71.8 as % of revenue 15.6% 11.8% REBIT 178.5 108.7 69.8 as % of revenue 9.7% 5.9% Operating income (EBIT) 168.2 51.7 116.4 as % of revenue 9.1% 2.8% Profit before income taxes 147.4 28.3 119.1 Net profit 100.1 13.3 86.8 attributable to: - non-controlling interests -3.0 0.6 - Group equity holders 103.1 12.7 Earnings per share (in €) 1HY2026 1HY2025 Change Basic earnings 1.32 0.16 +725%
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 5/8 About Aliaxis At Aliaxis, we connect people to the resources that matter. Our pipes and fittings work seamlessly behind the scenes, keeping the water and energy flowing, and the lights on for a lifetime. With a global portfolio of quality brands and operations in over 40 countries, our local teams serve our customers with solutions for the building, infrastructure, industrial, electrical and agriculture sectors. And at the heart of our operations is the e xpertise of our 1 4,000+ employees — they are what drive us. Together, we make life flow. Media Contact Aliaxis Frédéric Lennerts | Group VP Communications T: +32 (0)477 97 12 08 | E: frederic.lennerts@aliaxis.com DISCLAIMER This release has been prepared by Aliaxis SA. No representation or warranty, express or implied, is or will be made in relation to this release or in relation to any other information made available in relation to it. If this release contains express or im plied statements or estimates about anticipated future performances, such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which may or may not prove to be correct and may turn out to be materially different. No representations are made as to the accuracy or fairness of such statements and estimates. No responsibility or liability in relation to this release (or errors or omissions in it) is or will be accepted by Aliaxis, its sha reholders or by any of its directors, officers, employees or agents which expressly disclaim any and all liability.
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 6/8 Appendix to the press release 1. Financial Highlights H12026 Consolidated Statement of Financial Position (in € million) 1HY 2026 FY2025 1HY 2025 Intangible assets 857.6 869.9 967.9 Property, plant & equipment 1,448.9 1,465.3 1,481.5 Investment properties 1.3 1.3 3.1 Other assets 40.7 40.4 42.1 Deferred tax assets 124.6 106.5 40.7 Derivatives 3.5 7.3 10.7 Employee benefits 22.9 22.8 30.1 Assets held for sale 11.9 3.9 4.2 Assets 2,511.4 2,517.4 2,580.2 Non-cash working capital 801.0 609.4 857.7 TOTAL 3,312.4 3,126.8 3,437.9 Equity attributable to Group equity holders 2,179.5 2,088.7 2,185.8 Non-controlling interests 0.0 6.0 6.3 Total equity 2,179.5 2,094.7 2,192.1 Deferred tax liabilities 39.1 36.4 49.0 Employee benefits 45.4 45.7 57.6 Derivatives 4.3 2.2 8.2 Other liabilities 29.0 28.2 27.7 Dividend payable 37.1 0.2 74.0 Net financial debt 978.0 919.4 1,029.2 TOTAL 3,312.4 3,126.8 3,437.9
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 7/8 Net Sales & REBITDA by segment (In € million) 1HY 2026 1HY 2025 Net Sales REBITDA Net Sales REBITDA Americas 932.8 183.5 938.9 145.9 Pacific 254.3 32.4 182.8 5.9 EMEA 413.5 50.2 448.3 50.0 Asia 223.9 23.4 249.5 19.8 Other 19.3 0.0 20.1 -1.3 Not allocated 0.0 -0.9 0.0 -3.5 TOTAL 1,843.9 288.6 1,839.6 216.8 REBITDA (in € million) 1HY 2026 1HY 2025 Operating profit exclusive non-recurring items 178.5 108.7 Amortisation 22.7 21.6 Depreciation 88.6 86.2 Impairment -0.2 0.3 Impairment of non-financial assets (adj items) -0.9 - REBITDA 288.6 216.8 Recurring net profit (in € million) 1HY 2026 1 HY 2025 Net profit 100.1 13.3 Impairment Intangible assets/Goodwill/Investments Asheville - Hurricane Helene 2.2 21.1 Restructuring & Exceptional items 6.0 20.0 Other Recurring net profit 108.3 54.4
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Aliaxis S.A./N.V. Avenue Arnaud Fraiteur 15-23 1050 Brussels, Belgium Aliaxis | Press Release: H1 2026 Results 02 September 2026 8/8 Reported to Like-For-Like Reconciliation (in € million) 1HY 2026 1HY 2025 Var % NET SALES Net sales, as reported 1,843.9 1,839.6 0.2% Divestments -6.7 -63.8 FX -74.5 Net sales, like-for-like13 1,837.2 1,701.4 8.0% REBITDA REBITDA, as reported 288.6 216.8 33.1% Divestments -1.2 -2.2 FX -8.8 REBITDA, like-for-like1 287.4 205.7 39.7% EBIT EBIT, as reported 168.2 51.7 225.1% Divestments 5.2 3.1 FX -3.0 EBIT, Like-for-like1 173.4 51.8 234.7% 1 Divestment excluded in all periods, predominantly Opti, Marley Deutschland, businesses in China and Vinilit exit. Impact of FX excluded to reflect underlying performance at constant exchange rate