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NV Bekaert SA (BEKB.BR)

BEKB.BR on Brussels Stock Exchange

46.00EUR
22 Mar 2017
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Latest Key Developments (Source: Significant Developments)

NV Bekaert FY consolidated sales at 3.7 bln euros, in line with Reuters poll
Wednesday, 1 Mar 2017 01:40am EST 

NV Bekaert SA : FY underlying EBIT, up 32 percent to 305 million euros ($321.99 million) . FY consolidated sales 3.7 billion euros versus 3.71 billion euros in Reuters poll . Will propose gross dividend of 1.10 euros per share, compared with 0.90 euros last year . The dividend will, upon approval by the general meeting of shareholders, become payable as of May 15, 2017 . Says project automotive markets to continue to perform well in the first half of 2017 . Expects demand from oil and gas markets to remain weak due to the continuing low planned investment activity in extraction projects . Expects a strong start to year in solar markets, ahead of changes to feed-in tariffs in China . Expects continuing improvements to move their underlying EBIT margin trend towards 10 percent over the next 5 years . We believe we will broadly repeat in 2017 our current strong underlying EBIT level .Expects transformation programs to compensate for the adverse effects of changes to its consolidation scope in 2017.  Full Article

Bekaert 9M consolidated sales at 2,759 million euros
Friday, 18 Nov 2016 01:30am EST 

NV Bekaert SA : Achieved consolidated sales of 2,759 million euros ($2.93 billion) in the first nine months of 2016 . Lifts full-year REBIT margin estimate to top-end of 2016 target range . Revises its previous target range (between 7 pct and 8 pct REBIT) for full year 2016 and believes it will achieve between 7.5 pct and 8 pct REBIT margin on sales . In North America, expects normal seasonality impacts in Q4 . Projects continued strong demand from automotive and construction markets in last quarter of year . Anticipates a moderate pick-up in demand from solar markets after Q3 decline . Reduction in feed-in tariffs is expected in China in April 2017 and demand is projected to strengthen ahead of that change . Uncertainty in European market has been felt over last couple of months in terms of order intake .In Asia, anticipates the current strength to continue in Q4 and into 2017, particularly in the automotive sector.  Full Article

NV Bekaert H1 consolidated sales at 1.8 billion euros
Friday, 29 Jul 2016 01:00am EDT 

Nv Bekaert SA : Projects continued strong demand in H2 . H1 consolidated sales of 1.8 billion euros ($885.92 million) (-4 pct) and combined sales of 2.1 billion euros (-8 pct) . Reuters Poll: H1 consolidated sales 1.85 billion euros, combined sales 2.19 billion euros, EBITDA 270 million euros . H1 gross profit of 347 million euros (19 pct margin) compared with 304 million euros (16 pct margin) . H1 EBITDA of 242 million euros (13.3 pct margin) compared with 217 million euros (11.4 pct margin) . Do see an increased impact from the low activity in global oil and gas markets . Concerned about the continued weak economic environment in Latin America . Also project some slowdown in Europe from growing uncertainty and lack of confidence following Britain's choice to leave the European Union and we anticipate normal seasonality for the second half of the year . Remain confident we will continue to outperform the market environment over coming months .Sees will end the year ahead of our target goal of 7 pct REBIT, achieving between 7 pct and 8 pct REBIT for full year 2016.  Full Article

Bekaert appoints Beatriz Garcia-Cos Muntanola CFO
Wednesday, 29 Jun 2016 01:07am EDT 

NV Bekaert SA : Bekaert appoints new Chief Financial Officer (CFO) . Beatriz Garcia-Cos Muntanola appointed CFO of Bekaert .She will succeed Bruno Humblet who became Chief Executive Officer of Bridon-Bekaert Ropes Group.  Full Article

Bekaert expects to add about $350 mln in consolidated sales post Bridon-Bekaert merger
Wednesday, 29 Jun 2016 01:02am EDT 

NV Bekaert SA : Bekaert and Ontario Teachers' Pension Plan, previous owner of Bridon, have successfully closed definitive merger of their ropes and advanced cords businesses: Bridon-Bekaert . Transaction is estimated to add approximately $350 million (315 million euro at current rates) to Bekaert's consolidated sales on an annual basis in a normalized business context .Group projects a lower run rate over the first two years due to the current demand instability in oil and gas and mining markets.  Full Article

Bekaert places 380 million euro convertible bonds
Thursday, 19 May 2016 12:41pm EDT 

NV Bekaert SA : Successful placement of €380 million zero-coupon convertible bonds due 2021 and results of the repurchase of the outstanding €300 million 0.75 percent convertible bonds due 2018 . Conversion price of € 51.25 has been set at a premium of 35 % over the reference share price of € 37.9677 . Repurchase price 2018 bonds is equal to € 115,093.46 per € 100,000 principal amount per outstanding bonds, together with €741.80 accrued and unpaid interest .Settlement of the concurrent repurchase is expected to take place on June 14.  Full Article

Bekaert launches offering and repurchase of convertible bonds
Thursday, 19 May 2016 01:55am EDT 

NV Bekaert SA :Bekaert launches an offering of up to 380 million euros ($425.90 million) convertible bonds due 2021 and the repurchase of its outstanding 300 million euros 0.75 pct convertible bonds due 2018.  Full Article

Bekaert Q1 combined sales drop 7 pct to 1.03 bln euros
Wednesday, 11 May 2016 01:05am EDT 

NV Bekaert SA : Reports consolidated sales of 884 million euros ($1.01 billion) in Q1 of 2016, down 2 pct . Q1 combined sales decreased by 7 pct to 1,030 million euros as a result of unfavorable currency effects (-6 pct) . Demand for Bekaert's dramix steel fibers for concrete reinforcement increased steadily, especially in emea markets . Tire industry in China has been boosted in anticipation of new us import duties and increasing raw material prices . "We have the ability to outperform the market environment in 2016" . "We reiterate our view that we will take a very significant step towards our 7 pct REBIT target in 2016" . Bekaert's strong start to 2016 is expected to continue in the second quarter .Perceive more uncertainty for the second half of the year, as we see risk that tire markets will then slow.  Full Article

NV Bekaert and Ontario teachers' pension plan announce merger agreement
Monday, 7 Dec 2015 02:54am EST 

NV Bekaert SA:Bekaert and Ontario teachers' pension plan announce merger of global ropes and advanced cords businesses of Bekaert and Bridon.Bekaert and Ontario Teachers' pension plan, current owner of Bridon, have reached an agreement to establish Bridon Bekaert Ropes Group.Bruno Humblet, currently chief financial officer of Bekaert, has been appointed CEO of Bridon Bekaert Ropes Group.Andrew Caffyn, currently non-executive chairman of Bridon, has been appointed chairman of board.Bekaert will hold a 67 pct equity share and Ontario Teachers' will hold 33 pct.Definitive merger agreement is expected to complete in first half of 2016.Combined business will account for approximately 600 million euros ($649.8 million) in sales on an annual basis.Upon completion of deal, transaction is estimated to add approximately 350 million euros to Bekaert's consolidated sales on an annual basis.Has also purchased remaining 35 pct shareholding held by Matco Cables Spa in Bekaert's ropes entities.  Full Article

NV Bekaert comments on Q4 guidance
Friday, 13 Nov 2015 01:30am EST 

NV Bekaert SA:Anticipates continued solid demand from automotive markets in the final quarter of 2015.Forecast a neutral effect of currency movements in the fourth quarter2015.  Full Article

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