Luxembourg headquartered leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries Befesa’s adjusted EBITDA for Q3 stood at EUR 45.9 miion, compared to EUR 42.7 million in the same quarter last year, an increase of 7.6% YoY. Year-to-date growth was even stronger, as Befesa achieved EUR 163.9 million in the first nine months, up 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 EUR 3,245 per tonne in Q3 (28% YoY, aluminium alloy prices at EUR 2,327 per tonne up 16% YoY, offsetting inflation, primarily energy, for the most part. Befesa’s Executive Chair Javier Molina said “In Q3, we continued to deliver solid EBITDA growth in a challenging market environment, confirming our guidance for the year and successfully completing the acquisition of the US zinc refining operations. In the past five years, we have developed Befesa from a leading European-focused company to an international market leader with a globally-balanced footprint. We are proud of what we have achieved, however, we are even more excited about the next five years. Our journey is accelerating further, growing through the cycle, with our environmental services playing a vital role in the decarbonisation of the steel and aluminium industries and the transition to electric vehicles.” The 9M figures and Last Twelve Months trailing EBITDA of EUR 225 million indicate that Befesa’s full year results are expected to come in at around the bottom part of the guidance range (FY2022 EBITDA: EUR 220-270 million) and deliver a new record year for Befesa with at or above 11% YoY growth for the full year. Befesa is a leading player in the circular economy, providing environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, as well as in Turkey, South Korea, China and the US. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, which are a critical part of the circular economy, Befesa manages and recycles more than 2 million tonnes of residues annually, with a production of around 1.5 million tonnes of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources
Luxembourg headquartered leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries Befesa’s adjusted EBITDA for Q3 stood at EUR 45.9 miion, compared to EUR 42.7 million in the same quarter last year, an increase of 7.6% YoY. Year-to-date growth was even stronger, as Befesa achieved EUR 163.9 million in the first nine months, up 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 EUR 3,245 per tonne in Q3 (28% YoY, aluminium alloy prices at EUR 2,327 per tonne up 16% YoY, offsetting inflation, primarily energy, for the most part. Befesa’s Executive Chair Javier Molina said “In Q3, we continued to deliver solid EBITDA growth in a challenging market environment, confirming our guidance for the year and successfully completing the acquisition of the US zinc refining operations. In the past five years, we have developed Befesa from a leading European-focused company to an international market leader with a globally-balanced footprint. We are proud of what we have achieved, however, we are even more excited about the next five years. Our journey is accelerating further, growing through the cycle, with our environmental services playing a vital role in the decarbonisation of the steel and aluminium industries and the transition to electric vehicles.” The 9M figures and Last Twelve Months trailing EBITDA of EUR 225 million indicate that Befesa’s full year results are expected to come in at around the bottom part of the guidance range (FY2022 EBITDA: EUR 220-270 million) and deliver a new record year for Befesa with at or above 11% YoY growth for the full year. Befesa is a leading player in the circular economy, providing environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, as well as in Turkey, South Korea, China and the US. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, which are a critical part of the circular economy, Befesa manages and recycles more than 2 million tonnes of residues annually, with a production of around 1.5 million tonnes of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources
