Germany · Delayed Price · Currency is EUR Befesa Earnings Call Transcripts
Fiscal Year 2026
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Strong H1 2026 results with 11% EBITDA growth, improved margins, and reduced leverage. Guidance for full-year EBITDA of EUR 250–270 million is reaffirmed, with further deleveraging and disciplined CapEx planned. U.S. and European EAF expansions support long-term growth.
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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 14% EBITDA growth and record cash flow were driven by resilient steel dust and salt slag operations, while secondary aluminum showed early signs of recovery. 2026 is expected to bring further earnings growth, stable leverage, and focused CapEx on Bernburg, with a higher dividend proposed.
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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 and cost controls, despite lower volumes from maintenance and ongoing margin pressure in secondary aluminum. Full-year guidance anticipates double-digit EBITDA and EPS growth, with leverage reduction 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 saw strong adjusted EBITDA growth and robust cash flow, with steel dust and salt slag recycling performing well despite weak European steel and auto sectors. 2024 guidance was narrowed, leverage reduction remains a priority, and U.S. operations are set to drive growth in 2025.
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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.