Bekaert: H2 beat drives shares

NV Bekaert SA

03/03/2021 08:33

** Shares in Belgium's steel wire maker Bekaert  BEKB.BR 
are up 4.5% after it posts better-than-expected full-year
results  urn:newsml:reuters.com:*:nASN000WPP
    ** The company reports an underlying EBIT for FY up 13% at
272 million euros ($328.74 million)
    ** "A better than expected 56% increase in uEBIT in 2H20,"
KBC Securities notes, highlighting positive inventory
revaluation effects
    ** The broker says robust performance delivered in H2 was
supported by savings, efficiency initiatives and portfolio
upgrade efforts
    ** KBC maintains its "accumulate" rating on the stock,
seeing attractive valuation


($1 = 0.8274 euros)

 ((clement.martinot@thomsonreuters.com))