Bekaert: 2023 Full Year Results [Yahoo! Finance]
BEKAERT SA UNSP/ADR (BEKAY)
NASDAQ:AMEX Investor Relations:
bekaert.com/en/investors
Company Research
Source: Yahoo! Finance
Sales at € 4.3 billion • EBITu of € 388 million (margin 9.0%) • FCF up 40% • Leverage remains low at 0.5x Net debt/EBITDAu • Proposed dividend of € 1.80 per share (+9%) Bekaert delivered a resilient financial performance in 2023, further improving profit margins (EBITu margin at 9.0%, up 80bps vs FY2022) and delivering strong cash flows (Free Cash Flow of € 267 million, up +40% y-on-y). Despite lower volumes and weaker conditions in many of its end markets, the business continues to benefit from the successful execution of Bekaert's strategy, maintaining pricing discipline, enhancing the mix of higher margin products, and driving cost efficiencies. Looking ahead, the repositioning to target new growth opportunities linked to the energy transition and decarbonization trends continues and supports the company's ambitious financial targets for 2026. Financial Highlights Consolidated sales of € 4.3 billion (-13.5%) and combined sales of € 5.3 billion (-13.9%), driven primarily by t
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