Brief: Bekaert 9-Month Consolidated Sales Up At 3.56 Billion Euros

NV Bekaert SA

19/11/2021 06:53

Nov 19 (Reuters) - NV Bekaert SA  BEKB.BR :
    * CONSOLIDATED SALES OF EUR 3 559 MILLION (+30.3%) AND
COMBINED
SALES OF EUR 4 327 MILLION (+36.2%) OVER FIRST NINE MONTHS OF
2021
    * NET DEBT OF EUR 538 MILLION, COMPARED WITH EUR 834 MILLION
ON 30
SEPTEMBER 2020 AND EUR 604 MILLION AT YEAR-END 2020, RESULTING
IN VERY SOLID BALANCE SHEET
    * WE PROJECT SOLID SALES IN MOST OF OUR BUSINESS AREAS FOR
REMAINDER OF YEAR AND RECONFIRM OUR OUTLOOK
    * BARRING UNEXPECTED EVENTS, BEKAERT PROJECTS FOR FY 2021 AN
UNDERLYING EBIT MARGIN ON SALES OF 10% OR BETTER AND SALES OF
APPROXIMATELY € 4.6 BILLION
    * WHILE WE ANTICIPATE SOFTENING CONDITIONS IN SOME OF THE
DEMAND
TAILWINDS, REMAIN CAUTIOUS ABOUT SUPPLY CHAIN DISRUPTION RISKS,
AND TAKE INTO ACCOUNT THE USUAL SEASONALITY EFFECTS OF Q4
    * FOR BRIDON-BEKAERT ROPES GROUP, SALES ARE EXPECTED TO SLOW
DOWN
IN THE LAST QUARTER OF THE YEAR DUE TO THE USUAL SEASONALITY
EFFECTS AND SOME TEMPORARY SHUTDOWNS BY A-CORDS CUSTOMERS AS A
RESULT OF THE MICROCHIP SHORTAGE IN OEM MARKETS

Source text for Eikon:  ID:nGNE20KktX 
Further company coverage:  BEKB.BR 

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