Belgium's Bekaert H1 revenue falls 5% on price-mix pressure

NV Bekaert SA

30/07/2026 06:24

Overview
Belgium steel wire maker's H1 revenue fell 5% yr/yr to €1.9 bln
Underlying EBIT margin dropped to 8.3% from 8.8% in H1 2025
Company continued €200 mln share buyback, with €165 mln purchased to date

Outlook
Bekaert expects full-year 2026 sales to be flat on a like-for-like basis versus 2025
Company sees underlying EBIT margin for 2026 slightly below 2025 level
Bekaert says pass-through mechanisms expected to support revenue and largely preserve EBIT

Result Drivers
VOLUME GROWTH - Co said solid like-for-like volume growth, especially in tire cord and Sustainable Construction in North America, helped support topline resilience
PRICE-MIX PRESSURE - Unfavorable price-mix effects and regional demand shifts, especially towards Asia in Rubber Reinforcement, weighed on margins and sales
COST DISCIPLINE - Ongoing cost and footprint efficiency improvements, including plant consolidation and overhead savings, partly offset margin pressure

Company press release: ID:nGNE802yGH

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Total Sales
 
EUR 1.9 bln
 
H1 Adjusted EBITDA
 
EUR 237 mln
 
H1 Adjusted EBIT
 
EUR 155 mln
 
H1 Free Cash Flow
 
EUR 55 mln
 
H1 Net Debt
 
EUR 367 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 €43.00, about 2.5% above its July 29 closing price of €41.95
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

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(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.)