Befesa delivers strong Q2 2026, adjusted EBITDA up 17% to €66m reaffirming the outlook for the full year

EQS-News: Befesa S.A. / Key word(s): Half Year Report Befesa delivers strong Q2 2026, adjusted EBITDA up 17% to €66m reaffirming the outlook for the full year 29.07.2026 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. PRESS AND INVESTOR ANNOUNCEMENT

H1 2026 results

Befesa delivers strong Q2 2026, adjusted EBITDA up 17% to €66m reaffirming the outlook for the full year

• Adjusted EBITDA: H1 2026 Adj. EBITDA at €124m, +11% yoy (H1 2025: €112m), driven by solid EAF steel dust volume growth with strong contributions from the US and Europe
• Net profit: H1 2026 net profit at €45m, +12% yoy (H1 2025: €40m), reflecting improved profitability across the business
• Leverage: Net leverage reduced to x2.18 as of June 2026 (June 2025: x2.70), marking the ninth consecutive quarter of leverage reduction
• Outlook 2026: Full year adjusted EBITDA guidance reaffirmed at €250m–€270m, +3% to +11% yoy, with earnings momentum expected to strengthen as the year progresses
• Capital allocation: New cycle of low capex (around €70m in 2026, below €80m per year) and high earnings, underpinning strong free cash flow generation and shareholder value creation

 Luxembourg, 29 July 2026 – Befesa S.A. (“Befesa”), the leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries, released its H1 2026 results. Befesa delivered a strong first half, with higher volumes and improved profitability underpinned by robust performances in the US and Europe and higher LME zinc prices.

In H1 2026, total revenue decreased by 2% year over year to €589m (H1 2025: €602m), reflecting unfavourable EUR/USD exchange rate movements versus the prior year period. Adjusted EBITDA increased by 11% yoy to €124m (H1 2025: €112m), with the adjusted EBITDA margin improving to 21% (H1 2025: 19%). Net profit rose by 12% to €45m (H1 2025: €40m).

This performance was driven by solid EAF steel dust volume growth, higher zinc prices, lower coke and electricity costs, and improving momentum in the secondary aluminium business, partially offset by adverse foreign exchange movements. With a stronger Q2, in which adjusted EBITDA grew 17% to €66m (Q2 2025: €56m), Befesa has established a solid foundation for the remainder of the year.

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