Belgium · Delayed Price · Currency is EUR NV Bekaert Earnings Call Transcripts
Fiscal Year 2025
-
2025 saw resilient performance amid volatility, with strong cost control, stable margins, and robust free cash flow. Portfolio transformation continued with strategic divestments and acquisitions, while 2026 is expected to be stable with ongoing focus on efficiency and shareholder returns.
-
Q3 sales remained stable year-over-year, with FX and lower raw material costs impacting reported results. Strong volume growth in China and the U.S. offset softness in Europe and specialty segments. Full-year sales are targeted at €3.7 billion with an 8% EBITu margin.
-
Resilient H1 2025 performance with 8.8% EBIT margin, strong cash flow, and reduced overheads despite lower sales and challenging markets. Outlook for 2025 is slightly lower sales and 8–8.5% EBIT margin, with long-term profit ambitions delayed but intact.
-
Q1 2025 sales fell 3% year-over-year to €991 million, with strong performance in China offset by weaker demand in Europe and the US. Margin protection, cost control, and a reduced capex plan are in focus, while the outlook for 2025 is stable despite ongoing tariff and demand uncertainties.
Fiscal Year 2024
-
2024 saw resilient profitability despite a 9% sales decline, with stable EBIT margin and strong cash flow. Portfolio transformation continued with divestments and targeted M&A, while 2025 guidance expects flat to slightly improving revenues and stable margins.
-
Q3 sales declined 8% year-on-year due to lower volumes and input cost normalization, but margins remain stable thanks to proactive cost management. The share buyback program is reinstated, and the hydrogen business continues to grow, supported by EU funding. EBIT margin for 2024 is guided at 8.5%-9%.
-
H1 2024 saw resilient profitability near 10% despite an 11% revenue drop, with three business units above 10% EBIT margin and BBRG underperforming due to operational issues. Strategic acquisitions, strong cash flow, and margin improvements in key segments offset market and project delays.