Brief: Bekaert FY Underlying EBIT Up At 515 Million Euros

NV Bekaert SA

25/02/2022 07:48

Feb 25 (Reuters) - NV Bekaert SA  BEKB.BR :
    * FY SALES ROSE 28 PERCENT TO 4.8 BILLION EUR
    * FY CONSOLIDATED SALES OF EUR 4.8 BILLION (+28%) AND
COMBINED
SALES OF EUR 5.9 BILLION (+32%)
    * FY UNDERLYING EBIT OF EUR 515 MILLION, UP +89% FROM LAST
YEAR,
RESULTING IN A MARGIN OF 10.6% (VERSUS 7.2%)
    * FY EPS OF EUR 7.14 PER SHARE, TRIPLING RESULT OF PREVIOUS
YEAR
(EUR 2.38)
    * FY NET DEBT OF EUR 417 MILLION, -31% DOWN FROM EUR 604
MILLION
AT CLOSE OF 2020, RESULTING IN NET DEBT ON UNDERLYING EBITDA OF
0.61, LESS THAN HALF OF LAST YEAR (1.26)
    * OUTLOOK 2022 GLOBAL SUPPLY CHAIN DISRUPTIONS AND FREIGHT
COST
INFLATION ARE EXPECTED TO PERSIST IN 2022
    * CASH ON HAND WAS EUR 677 MILLION AT END OF PERIOD
    * OUTLOOK 2022 GIVEN UNCERTAINTIES AND INSTABILITY FACING
WORLD
TODAY AND EARLY STAGE OF YEAR, VISIBILITY ON 2022 MARKET
EVOLUTIONS IS LIMITED
    * BOARD WILL PROPOSE TO ANNUAL GENERAL MEETING OF
SHAREHOLDERS IN
MAY OF 2022 A 50% GROSS DIVIDEND INCREASE TO EUR 1.50 PER SHARE
    * OUTLOOK : CONFIRM OUR AMBITION TO REACH MID-TERM TARGETS
(2022-2026) THAT WE ANNOUNCED ON 30 JULY 2021
    * IN ADDITION, BOARD HAS APPROVED A SHARE BUYBACK PROGRAM OF
AN
AMOUNT UP TO EUR 120 MILLION
    * OUTLOOK : FURTHER ENHANCE VALUE GROWTH IN TARGET MARKETS,
MAKE
US CONFIDENT ABOUT OUR ABILITY TO DELIVER ON OUR STRATEGIC
PRIORITIES
    * OUTLOOK : PROJECT FURTHER SALES GROWTH DRIVEN BY OUR
CUSTOMER-CENTRIC APPROACH AND GO-TO-MARKET STRATEGY WITH AN
EXTENDED OFFERING IN INNOVATIVE, DIGITAL AND SUSTAINABLE
SOLUTIONS

Source text: https://bit.ly/3559sOd 
Further company coverage:  BEKB.BR 

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