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NV Bekaert SA (BEKB.BR)

BEKB.BR on Brussels Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Bekaert 9M consolidated sales increase to 3.07 ‍​billion euros
Friday, 10 Nov 2017 01:30am EST 

Nov 10 (Reuters) - NV BEKAERT SA : :9-MONTHS CONSOLIDATED SALES EUR 3.07 ‍​ BILLION VERSUS EUR 2.76 BILLION YEAR AGO.IT HAS BEEN EXTREMELY DIFFICULT TO PASS ON RAW MATERIALS PRICE INCREASES IN ALMOST ALL BUSINESSES‍​.UNCERTAINTY IN THE US IS CREATING AN INCREASINGLY DIFFICULT ECONOMIC BUSINESS CLIMATE.Q3 CONSOLIDATED SALES EUR ‍​977 MILLION VERSUS EUR 942 MILLION IN REUTERS POLL.REMAINS CONFIDENT ABOUT MOVING TOWARDS 10% UNDERLYING EBIT MARGIN OVER COMING YEARS.SEES MORE POSITIVE GROWTH INTO 2018 .INTEGRATION OF SUBSIDIARY INTO PARTNERSHIP WITH ARCELORMITTAL AND FY INTEGRATION OF BRIDON BUSINESS WILL HAVE ADVERSE IMPACT ON 2017 MARGINS.SEES LITTLE SIGNS OF RECOVERY IN LATIN AMERICA.  Full Article

NV Bekaert: H1 underlying EBIT of EUR 176 million, up 12% yoy
Friday, 28 Jul 2017 01:00am EDT 

July 28 (Reuters) - NV BEKAERT SA : :REITERATE OUR VIEW THAT WE WILL BROADLY REPEAT IN 2017 OUR UNDERLYING ABSOLUTE EBIT OF 2016‍​.H1 CONSOLIDATED SALES OF € 2.1 BILLION (+15%) AND COMBINED SALES OF € 2.4 BILLION (+14%)‍​.H1 UNDERLYING EBIT OF € 176 MILLION (8.4% MARGIN) COMPARED WITH € 157 MILLION (8.6% MARGIN)‍​.H1 UNDERLYING GROSS PROFIT OF € 382 MILLION (18% MARGIN) COMPARED WITH € 347 MILLION (19% MARGIN)‍​." WE INTEND TO INVEST € 250 MILLION IN PROPERTY, PLANT AND EQUIPMENT IN FY 2017, AROUND € 100 MILLION HIGHER THAN LAST YEAR"‍​.BELIEVES UNDERLYING STRATEGY ALLOWS US TO MOVE TOWARDS A 10% MARGIN OVER THE COMING YEARS.‍​.RECENT INTEGRATION OF SUMARÉ ACTIVITIES INTO ARCELORMITTAL-BEKAERT JV IN BRAZIL WILL HAVE AN IMPACT ON RESULTS‍​.THE PROJECTED NORMAL SEASONALITY OF THE SECOND HALF OF THE YEAR WILL HAVE AN IMPACT ON RESULTS‍​.  Full Article

Bekaert and ArcelorMittal successfully close Sumaré deal
Thursday, 22 Jun 2017 01:30am EDT 

June 22 (Reuters) - NV BEKAERT SA :REG-BEKAERT AND ARCELORMITTAL SUCCESSFULLY CLOSE SUMARÉ DEAL.PROCEEDS OF TRANSACTION AMOUNT TO APPROXIMATELY EUR 56 MILLION,.PROCEEDS OF TRANSACTION RESULT IN ESTIMATED GAIN ON DISPOSAL OF EUR 38 MILLION WHICH WILL BE RECOGNIZED IN BEKAERT'S CONSOLIDATED STATEMENTS FOR H1 OF 2017.  Full Article

NV Bekaert consolidated revenue up 1 061 million euros for Q1 2017
Wednesday, 10 May 2017 01:30am EDT 

May 10 (Reuters) - NV BEKAERT SA ::ACHIEVED A 20% INCREASE IN CONSOLIDATED REVENUE, REACHING EUR 1 061 MILLION FOR Q1 OF 2017.Q1 COMBINED SALES INCREASED BY 19% TO EUR 1 223 MILLION.OUTLOOK REMAINS VERY SIMILAR TO THE ONE OUTLINED AT THE BEGINNING OF MARCH.  Full Article

Bekaert and ArcelorMittal extend their partnership in Brazil
Wednesday, 26 Apr 2017 07:00am EDT 

April 26 (Reuters) - NV Bekaert SA ::Bekaert and ArcelorMittal <<>> extend their partnership in Brazil.Bekaert and ArcelorMittal reached agreement on integration of co's currently wholly-owned subsidiary in Sumare (Brazil) into BMB (Belgo Mineira Bekaert Artefatos de Arame Ltda) partnership.ArcelorMittal will be the majority shareholder (55.5 pct) of the steel cord entity in Sumare and Bekaert will hold the remaining shares (44.5 pct).Transaction is subject to customary closing conditions and is expected to be completed in the Q2 of 2017.  Full Article

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

UPDATE 1-Bekaert cautious on 2017 after profit below expectations

BRUSSELS, July 28 Belgian steel wire maker Bekaert on Friday reported lower-than-expected operating profit in the first half of the year and said it remained cautious about the rest of 2017.