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NV Bekaert SA (BEKB.BR)

BEKB.BR on Brussels Stock Exchange

35.81EUR
23 Nov 2017
Change (% chg)

€0.06 (+0.18%)
Prev Close
€35.74
Open
€35.80
Day's High
€36.04
Day's Low
€35.58
Volume
141,452
Avg. Vol
134,189
52-wk High
€49.92
52-wk Low
€34.81

Latest Key Developments (Source: Significant Developments)

Bekaert 9M consolidated sales increase to 3.07 ‍​billion euros
Friday, 10 Nov 2017 

Nov 10 (Reuters) - NV BEKAERT SA : :9-MONTHS CONSOLIDATED SALES EUR 3.07 ‍​ BILLION VERSUS EUR 2.76 BILLION YEAR AGO.IT HAS BEEN EXTREMELY DIFFICULT TO PASS ON RAW MATERIALS PRICE INCREASES IN ALMOST ALL BUSINESSES‍​.UNCERTAINTY IN THE US IS CREATING AN INCREASINGLY DIFFICULT ECONOMIC BUSINESS CLIMATE.Q3 CONSOLIDATED SALES EUR ‍​977 MILLION VERSUS EUR 942 MILLION IN REUTERS POLL.REMAINS CONFIDENT ABOUT MOVING TOWARDS 10% UNDERLYING EBIT MARGIN OVER COMING YEARS.SEES MORE POSITIVE GROWTH INTO 2018 .INTEGRATION OF SUBSIDIARY INTO PARTNERSHIP WITH ARCELORMITTAL AND FY INTEGRATION OF BRIDON BUSINESS WILL HAVE ADVERSE IMPACT ON 2017 MARGINS.SEES LITTLE SIGNS OF RECOVERY IN LATIN AMERICA.  Full Article

NV Bekaert H1 consolidated sales at 1.8 billion euros
Friday, 29 Jul 2016 

Nv Bekaert SA : Projects continued strong demand in H2 . H1 consolidated sales of 1.8 billion euros ($885.92 million) (-4 pct) and combined sales of 2.1 billion euros (-8 pct) . Reuters Poll: H1 consolidated sales 1.85 billion euros, combined sales 2.19 billion euros, EBITDA 270 million euros . H1 gross profit of 347 million euros (19 pct margin) compared with 304 million euros (16 pct margin) . H1 EBITDA of 242 million euros (13.3 pct margin) compared with 217 million euros (11.4 pct margin) . Do see an increased impact from the low activity in global oil and gas markets . Concerned about the continued weak economic environment in Latin America . Also project some slowdown in Europe from growing uncertainty and lack of confidence following Britain's choice to leave the European Union and we anticipate normal seasonality for the second half of the year . Remain confident we will continue to outperform the market environment over coming months .Sees will end the year ahead of our target goal of 7 pct REBIT, achieving between 7 pct and 8 pct REBIT for full year 2016.  Full Article

Bekaert appoints Beatriz Garcia-Cos Muntanola CFO
Wednesday, 29 Jun 2016 

NV Bekaert SA : Bekaert appoints new Chief Financial Officer (CFO) . Beatriz Garcia-Cos Muntanola appointed CFO of Bekaert .She will succeed Bruno Humblet who became Chief Executive Officer of Bridon-Bekaert Ropes Group.  Full Article

Bekaert expects to add about $350 mln in consolidated sales post Bridon-Bekaert merger
Wednesday, 29 Jun 2016 

NV Bekaert SA : Bekaert and Ontario Teachers' Pension Plan, previous owner of Bridon, have successfully closed definitive merger of their ropes and advanced cords businesses: Bridon-Bekaert . Transaction is estimated to add approximately $350 million (315 million euro at current rates) to Bekaert's consolidated sales on an annual basis in a normalized business context .Group projects a lower run rate over the first two years due to the current demand instability in oil and gas and mining markets.  Full Article

Bekaert places 380 million euro convertible bonds
Thursday, 19 May 2016 

NV Bekaert SA : Successful placement of €380 million zero-coupon convertible bonds due 2021 and results of the repurchase of the outstanding €300 million 0.75 percent convertible bonds due 2018 . Conversion price of € 51.25 has been set at a premium of 35 % over the reference share price of € 37.9677 . Repurchase price 2018 bonds is equal to € 115,093.46 per € 100,000 principal amount per outstanding bonds, together with €741.80 accrued and unpaid interest .Settlement of the concurrent repurchase is expected to take place on June 14.  Full Article

Bekaert launches offering and repurchase of convertible bonds
Thursday, 19 May 2016 

NV Bekaert SA :Bekaert launches an offering of up to 380 million euros ($425.90 million) convertible bonds due 2021 and the repurchase of its outstanding 300 million euros 0.75 pct convertible bonds due 2018.  Full Article

Bekaert Q1 combined sales drop 7 pct to 1.03 bln euros
Wednesday, 11 May 2016 

NV Bekaert SA : Reports consolidated sales of 884 million euros ($1.01 billion) in Q1 of 2016, down 2 pct . Q1 combined sales decreased by 7 pct to 1,030 million euros as a result of unfavorable currency effects (-6 pct) . Demand for Bekaert's dramix steel fibers for concrete reinforcement increased steadily, especially in emea markets . Tire industry in China has been boosted in anticipation of new us import duties and increasing raw material prices . "We have the ability to outperform the market environment in 2016" . "We reiterate our view that we will take a very significant step towards our 7 pct REBIT target in 2016" . Bekaert's strong start to 2016 is expected to continue in the second quarter .Perceive more uncertainty for the second half of the year, as we see risk that tire markets will then slow.  Full Article

NV Bekaert and Ontario teachers' pension plan announce merger agreement
Monday, 7 Dec 2015 

NV Bekaert SA:Bekaert and Ontario teachers' pension plan announce merger of global ropes and advanced cords businesses of Bekaert and Bridon.Bekaert and Ontario Teachers' pension plan, current owner of Bridon, have reached an agreement to establish Bridon Bekaert Ropes Group.Bruno Humblet, currently chief financial officer of Bekaert, has been appointed CEO of Bridon Bekaert Ropes Group.Andrew Caffyn, currently non-executive chairman of Bridon, has been appointed chairman of board.Bekaert will hold a 67 pct equity share and Ontario Teachers' will hold 33 pct.Definitive merger agreement is expected to complete in first half of 2016.Combined business will account for approximately 600 million euros ($649.8 million) in sales on an annual basis.Upon completion of deal, transaction is estimated to add approximately 350 million euros to Bekaert's consolidated sales on an annual basis.Has also purchased remaining 35 pct shareholding held by Matco Cables Spa in Bekaert's ropes entities.  Full Article