Belgium headquartered leading wire producer Bekaert has delivered robust growth and a solid profit performance in the first half of 2022, driven by strong price realization and excellent operational performance. This was achieved despite increasing volatility, cost inflation, supply chain challenges, lockdowns in China, and weaker demand in selected geographies, compared to a very strong first half last year.Consolidated sales of EUR 2,859 million up 24% & and combined sales of EUR 3,456 million up 24%Gross profit of EUR 472 million, in line with a very strong first half last year at EUR 473 millionUnderlying EBITDA of EUR 381 million up EUR 5 million higher than for the same period last yearUnderlying EBITDA margin on sales of 13.3% down versus 16.3%Bekaert said “Our profitability ambitions for the medium term remain unchanged. However, the 2022 outlook remains particularly volatile due to macroeconomic and geopolitical turbulences. We therefore remain vigilant and will actively address further changes in market conditions. Similar to the agility demonstrated throughout the COVID pandemic, we will continue to align our business priorities with the market needs, further leverage our pricing discipline, and accelerate the execution of additional structural cost savings.”Bekaert purchases approximately 3 million tonnes of wire rod per year & depending on customers’ needs draws wire from it in different diameters and strengths, even as thin as ultrafine fibers of one micron. Bekaert groups the wires into cords, ropes and strands, weave or knit them into fabric or process them into an end product. Depending on the application, Bekaert applied coatings which reduce friction, improve corrosion resistance or enhance adhesion with other materials.
Belgium headquartered leading wire producer Bekaert has delivered robust growth and a solid profit performance in the first half of 2022, driven by strong price realization and excellent operational performance. This was achieved despite increasing volatility, cost inflation, supply chain challenges, lockdowns in China, and weaker demand in selected geographies, compared to a very strong first half last year.Consolidated sales of EUR 2,859 million up 24% & and combined sales of EUR 3,456 million up 24%Gross profit of EUR 472 million, in line with a very strong first half last year at EUR 473 millionUnderlying EBITDA of EUR 381 million up EUR 5 million higher than for the same period last yearUnderlying EBITDA margin on sales of 13.3% down versus 16.3%Bekaert said “Our profitability ambitions for the medium term remain unchanged. However, the 2022 outlook remains particularly volatile due to macroeconomic and geopolitical turbulences. We therefore remain vigilant and will actively address further changes in market conditions. Similar to the agility demonstrated throughout the COVID pandemic, we will continue to align our business priorities with the market needs, further leverage our pricing discipline, and accelerate the execution of additional structural cost savings.”Bekaert purchases approximately 3 million tonnes of wire rod per year & depending on customers’ needs draws wire from it in different diameters and strengths, even as thin as ultrafine fibers of one micron. Bekaert groups the wires into cords, ropes and strands, weave or knit them into fabric or process them into an end product. Depending on the application, Bekaert applied coatings which reduce friction, improve corrosion resistance or enhance adhesion with other materials.
