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Bekaert profits up in 2017

Contributor: Editorial, 28 February 2018

Cable and wire manufacturer Bekaert reported sales in 2017 rose by 10.3% to €4,098 million compared to €3,715 million in 2016 with net profit up by 75.6%.

Organic volume growth was 3.4% for the year due to demand in global automotive markets and increased sales volumes in industrial steel wire and construction markets.

Operating profit, EBITDA, was up at €510 million, from €481 million but margins were tighter for the year. Net profit for the year was €184.7 million compared to €105.2 million in 2016.

Bekaert said it achieved solid results in EMEA, further progress was made in margin improvements in North America, but lower margins were experienced in Latin America and the Asia Pacific regions.

Net debt increased to €1,151 million, up from €1,068 million at the beginning of the year.

A dividend of €1.10 has been proposed for the year.

Name: 
NV Bekaert SA
Turnover: 
€4,098 million
Employees: 
Location: 
Entity type: 
BEKB.BR