Belgium headquartered wire product maker Bekaert announced all-time high consolidated sales of EUR 1 253 million (+26.1%) and combined sales of EUR 1 545 million (+30.8%) in Q3 of 2021. Consolidated sales of EUR 3 559 million (+30.3%) and combined sales of EUR 4 327 million (+36.2%) over the first nine months of 2021, driven by a volume rebound to pre-Covid levels and a strong pricing strategy execution

Demand continued to benefit from the post-Covid rebound and remained strong across much geography, with the exception of China

The global supply chain remains constrained on the back of several headwinds associated with raw material shortages and freight bottlenecks

Cost inflation has impacted various input costs including raw materials, transportation, and energy

While the global macro environment remains unstable, Bekaert has successfully accelerated its transformation allowing the company to leverage on several opportunities.

Outlook - While Bekaert anticipates softening conditions in some of the demand tailwinds, remain cautious about supply chain disruption risks, and take into account the usual seasonality effects of the fourth quarter, Bekaert projects solid sales in most of our business areas for the remainder of the year and reconfirm our outlook: Barring unexpected events, Bekaert projects for FY 2021 an underlying EBIT margin on sales of 10% or better and sales of approximately EUR 4.6 billion.

Bekaert is a world market and technology leader in steel wire transformation and coating technologies and is known as a supplier of steel cord products for tire reinforcement, 30% of all tires in the world are reinforced with Bekaert products or maybe Dramix steel fibers, used to reinforce over 10 million cubic meters of concrete every year. But we also offer a very wide range of advanced steel wire products for other applications and to many sectors.

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Strategic Research Institute

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