Belgium's Bekaert 2025 revenue misses, EBIT beats expectations

NV Bekaert SA

26/02/2026 06:18

Corrects FY revenue in Key Details table to EUR 3.71 bln, from EUR 873 mln

Overview

Belgium steel wire maker's 2025 revenue missed analyst expectations

Adjusted EBIT for 2025 beat analyst expectations

Company reported strong cash flow of €314 mln, supported by cost management

Outlook

Company expects 2026 revenues and margins similar to 2025 on a like-for-like basis

Demand recovery in Sustainable Construction expected to continue in North America

Growth expected in energy and utilities end markets due to recent contract wins

Result Drivers

COST MANAGEMENT - Bekaert achieved significant cost savings and operational efficiency improvements, which helped mitigate lower sales impact on EBITu margin

DEMAND SHIFTS - Slower growth in hydrogen market required operational adjustments, while robust demand in power and data transmission networks increased sales

FOOTPRINT OPTIMIZATION - Strategic exit from lower-margin Latin American businesses and restructuring efforts aligned operations with market demand

Company press release: ID:nGNE576Zyj

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Miss
EUR 3.71 bln
EUR 3.73 bln (8 Analysts)
FY Adjusted EBITDA
EUR 469 mln
FY Adjusted EBIT
Beat
EUR 297 mln
EUR 276.68 mln (8 Analysts)
FY Free Cash Flow
EUR 314 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the iron & steel peer group is "buy."

Wall Street's median 12-month price target for NV Bekaert SA is €37.50, about 15.2% below its February 25 closing price of €44.20

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)