Brief: Befesa 9M Net Profit At EUR 27.6 Mln

Befesa SA

26/10/2023 06:34

Oct 26 (Reuters) - BEFESA SA  BFSA.DE :
    * ACHIEVED EUR 137M ADJUSTED EBITDA IN THE FIRST 9 MONTHS OF
2023
AMID A PERSISTENTLY CHALLENGING MARKET ENVIRONMENT
    * OUTLOOK: FY 2023 ADJUSTED EBITDA GUIDANCE REVISED TO
AROUND EUR
180M
    * STRONG GROWTH EXPECTED IN 2024 AND POSITIVE MID-TERM
OUTLOOK
INTACT
    * APPOINTMENT OF MRS SOLEDAD LUCA DE TENA TO BOARD AS
INDEPENDENT
DIRECTOR
    * HOWEVER, ADJUSTED EBITDA DECREASED BY 17% TO EUR 136.7
MILLION
IN 9M
    * EBITDA DECREASE WAS PRIMARILY DRIVEN BY LOWER ZINC LME
PRICES,
UNFAVOURABLE INCREASE IN ZINC TC (19% YOY) AND HIGHER COKE
PRICES, PARTIALLY OFFSET BY BETTER ZINC HEDGES, LOWER ENERGY
PRICES AND SYNERGIES
    * TOTAL REVENUE INCREASED BY 8% TO EUR 904.2 MILLION IN 9M
    * IN 9M 2023, BEFESA'S OPERATING CASHFLOW AMOUNTED TO EUR
63.7
MILLION (9M 2022: EUR 78.3 MILLION)
    * 9M NET PROFIT AT 27.6 MILLION EUR

Source text for Eikon:  ID:nEQ8ynl05a 
Further company coverage:  BFSA.DE 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))