Brief: Bekaert Sees H2 Underlying EBIT Roughly Flat Y/Y

NV Bekaert SA

19/07/2021 06:39

July 19 (Reuters) - NV Bekaert SA  BEKB.BR :
    * REG-BEKAERT SET TO SIGNIFICANTLY OUTPERFORM EXPECTATIONS
    * H1 PRELIM EUR 2.3 BILLION IN CONSOLIDATED REVENUE, UP 30%
FROM
H1 2020 AND BACK TO PRE-COVID LEVELS
    * H1 PRELIM UNDERLYING EBIT OF EUR 285 MILLION, TRIPLING
LEVEL OF
H1 2020
    * H1 PRELIM  AN UNDERLYING EBIT MARGIN ON SALES OF
APPROXIMATELY
12%, ABOUT 7 PPT ABOVE H1 2020
    * H1 PRELIM AN UNDERLYING EBITDA MARGIN OF APPROXIMATELY
16%,
ABOUT 5 PPT ABOVE H1 2020
    * H1 FURTHER DELEVERAGING: NET DEBT ON UNDERLYING EBITDA OF
ABOUT
0.70
    * WE PROJECT GOOD DEMAND IN MOST MARKETS IN SECOND HALF OF
YEAR
    * WE PROJECT A MUCH LOWER INVENTORY VALUATION IMPACT IN
SECOND
HALF DUE TO ANTICIPATED STABILIZATION TREND IN RAW MATERIAL
PRICES
    * UNDERLYING EBIT OF SECOND HALF WILL THEREFORE BE LOWER
THAN
FIRST HALF OF 2021
    * H2 UNDERL EBIT IS PROJECTED TO APPROXIMATE LEVEL OF SECOND
HALF
LAST YEAR

Source text for Eikon:  ID:nGNE46ldB2 
Further company coverage:  BEKB.BR 

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