Brief: Bekaert H1 Underlying EBIT Down At EUR 92 Million

NV Bekaert SA

31/07/2020 06:42

July 31 (Reuters) - NV Bekaert SA  BEKB.BR :
    * REG-BEKAERT: 2020 FIRST HALF-YEAR RESULTS
    * H1 CONSOLIDATED SALES OF EUR 1 770 MILLION (-20%) AND
COMBINED
SALES OF EUR 2 065 MILLION (-21% DOWN VERSUS H1 2019)
    * H1 UNDERLYING EBIT OF EUR 92 MILLION, DELIVERING A SOLID
MARGIN
ON SALES OF 5.2%, COMPARED TO 5.7% IN H1 2019
    * H1 POSITIVE CASH FLOW GENERATION: CASH FLOWS FROM
OPERATING
ACTIVITIES AMOUNTED TO EUR 111 MILLION (VERSUS EUR 134 MILLION)
    * H1 NET DEBT OF EUR 955 MILLION, APPROXIMATELY EUR -300
MILLION
DOWN FROM EUR 1 253 MILLION AS AT 30 JUNE 2019
    * AT PRESENT, ALL BEKAERT'S PRODUCTION PLANTS GLOBALLY ARE
OPERATIONAL, EITHER FULLY OR PARTIALLY
    * WE PROJECT A GRADUAL RECOVERY IN TIRE MARKETS IN REMAINDER
OF
YEAR
    * WE HAVE LIMITED VISIBILITY ON FULL-YEAR IMPACT IN OUR
MARKETS
AND OUR BUSINESS

Source text for Eikon:  ID:nGNE7CLTwt 
Further company coverage:  BEKB.BR 

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