Germany · Delayed Price · Currency is EUR Befesa Earnings Call Transcripts
Fiscal Year 2026
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Adjusted EBITDA grew 4% to EUR 58 million in Q1 2026, with net income and EPS up 11% year-over-year. Guidance for 2026 targets EUR 250–270 million EBITDA, supported by U.S. steel dust volume growth, Bernburg expansion, and stable zinc hedging.
Fiscal Year 2025
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Strong 2025 results with EBITDA up 14% and EPS up 58% year-over-year, driven by resilient steel dust operations and disciplined cost management. 2026 is expected to bring further earnings growth, stable leverage, and focused CapEx on Bernburg expansion.
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Strong Q3 results with 15% year-on-year EBITDA growth and improved margins, driven by robust Steel Dust performance and operational efficiency. Full-year EBITDA guidance is confirmed at the lower end, with Q4 expected to be the strongest quarter.
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Solid H1 2025 results with 9% EBITDA growth and improved margins, driven by strong steel dust performance and cost controls, despite weak aluminum markets. Full-year guidance is confirmed, with key growth projects on track and leverage reduction prioritized.
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Q1 2025 saw strong EBITDA and net income growth, driven by higher zinc prices, cost controls, and effective hedging, despite lower volumes from plant maintenance. Full-year guidance anticipates double-digit EBITDA and EPS growth, with continued deleveraging and focused CapEx.
Fiscal Year 2024
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Record 2024 results with Adjusted EBITDA up 17% year-over-year and strong cash flow growth. Steel dust recycling outperformed despite weak steel markets, while aluminum margins remained under pressure. 2025 outlook calls for double-digit earnings growth, further deleveraging, and focused CapEx on low-risk projects.
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Q3 adjusted EBITDA rose 16% YoY to EUR 49 million, with strong steel dust and salt slag recycling offsetting weak secondary aluminum. 2024 EBITDA is guided at EUR 210-215 million, with 2025 expected to see double-digit growth, driven by U.S. expansion and cost reductions.
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H1 2024 saw strong volume and EBITDA growth, driven by operational improvements, cost reductions, and strategic acquisitions. Guidance for 2024 EBITDA was raised to EUR 205–235 million, with a robust outlook for H2 and 2025, supported by hedging and disciplined capital allocation.