EQS-News
Befesa S.A.: Befesa continues to deliver strong results with 9M’22 up 20% yoy and confirms FY guidance towards lower end
EQS-News: Befesa S.A. / Key word(s): Quarterly / Interim Statement/9 Month figures PRESS AND INVESTOR ANNOUNCEMENT |
Third quarter 2022 results
Befesa continues to deliver strong results with 9M’22 up 20% yoy and confirms FY guidance towards lower end
- Q3’22 adjusted EBITDA at €46m, +8% or +€3m yoy (Q3’21: €43m);
9M’22 adjusted EBITDA at €164m, +20% or +€27m yoy (9M’21: €137m); LTM at €225m - FY2022 EBITDA guidance range confirmed towards lower end
- Distributed €50m dividend equal to 50% of prior year net profit and €1.25 per share
- Acquisition of zinc refining asset in the US successfully completed at $47m
- China expansion: Progress continued, finalising commissioning of 2nd plant in Q4
- Details of five-year Sustainable Global Growth Plan (SGGP) to be presented at Befesa’s first Capital Markets Day on 8 November
Luxembourg, 27 October 2022 – Befesa S.A. (“Befesa”), the leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries, reported continued strong performance and earnings growth for both Q3 and 9M 2022.
Adjusted EBITDA for Q3 stood at €45.9m, compared to €42.7m in the same quarter last year, an increase of 7.6% YoY. Year-to-date growth was even stronger, as Befesa achieved €163.9m in the first nine months, up €27m or 20% compared to 9M 2021, driven by good volume performance in Steel Dust including the US operations, and overall high plant utilisation levels at around 80% in both core businesses. Zinc market prices averaged at €3,245/t in Q3 (up 28% YoY), aluminium alloy prices at €2,327/t (up 16% YoY), offsetting inflation, primarily energy, for the most part.