→ Sales of €4,705.4m in Q2 2022, up +12.0% on a same-day basis. Robust activity notably driven by electrification trends, increased digital penetration, volume growth in North America and higher non-cable selling price in all geographies
→ Record H1 adjusted EBITA of €703.7m up +63.4% and adjusted EBITA margin at 7.7% (up +228 bps) from robust activity (actual-day sales growth of +15.3%) coupled with continued effects of our operational excellence program as well as price pass-through. Adjusted EBITA includes c. 86 bps of positive one-off effects from inventory price inflation on non-cable products, net of higher performance-linked bonuses
→ Recurring net income of €471.1 million, up +94.9% in H1 2022, reaching an all-time high
→ Record positive Free Cash Flow before interest and tax of €231.6m in H1 2022 (€116.3m in H1 2021). Lowest-ever first-half indebtedness ratio at 1.26x
→ FY 2022 guidance confirmed, supported by record-high backlog, easier base effect in Europe in H2 and China back to positive territory
→ Active portfolio management with 2 acquisitions and 2 disposals, fully in line with our strategy. The combined net effect is positive on sales, profitability and ROCE
→ SBTi validated our 2030 & 2050 Greenhouse Gas emission targets to reach net-zero across the value chain
→ Implementing PowerUP 2025 plan to strengthen the organization and further increase the resilience of our model
More details in the document below.
pr-h1-2022-results