Pre-close update – AECI Group delivered a 22% increase in revenue and a 25% increase in EBIT for the first 5 months of the year. Net working capital spend was driven by increased sales volumes and higher debtors and inventory levels. The net gearing ratio was 50%, driven by higher net debt and rising interest rates. The group’s net debt to EBITDA remained within the loan covenant threshold. Refinancing efforts were initiated, and capital expenditure aligned with expectations. AECI Mining and AECI Water saw revenue growth and improved margins, while AECI Schirm Germany reported a loss. A turnaround project is underway for Schirm. AECI Chemicals faced lower demand and margin pressures.
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