30.08.2018 Befesa S.A.  LU1704650164

DGAP-News: Befesa continues earnings growth in Q2 2018 in line with annual guidance


 
DGAP-News: Befesa S.A. / Key word(s): Half Year Results Befesa continues earnings growth in Q2 2018 in line with annual guidance 30.08.2018 / 07:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Befesa continues earnings growth in Q2 2018 in line with annual guidance * Strong steel dust volume development at record levels up 14.4% from H1 2017 * Adjusted EBITDA grew by 6.8% to EUR44.3m in Q2 (H1: +6.9% to EUR88.9m); * adjusted EBIT grew by 7.9% to EUR37.0m in Q2 (H1: +7.5% to EUR74.3m) * EPS significantly improved to EUR0.68 in Q2 (H1: EUR1.32) * Extended zinc hedges to cover H1 2021 at EUR2,230/t * Growth initiatives being implemented and on track Luxembourg, 30 August 2018 - Befesa S.A. ("Befesa"), the European market leader for steel dust and aluminium salt slags recycling services, achieved another quarter of YoY earnings growth and continued delivery of growth targets. The main drivers behind this earnings growth were the increased volume of steel dust treated, largely originating from Befesa's South Korean operations, alongside favourable average zinc and aluminium alloy prices during Q2. Revenues in Q2 2018 decreased by 7.3% to EUR187.0m compared to the same period in 2017. This decrease was due to accounting amendments implemented January 1, 2018, decreasing revenue by EUR29m. Adjusted EBITDA grew by 6.8% to EUR44.3m and adjusted EBIT grew by 7.9% to EUR37.0m compared to Q2 2017. Accordingly, Befesa's Q2 2018 adjusted EBITDA margin increased to 23.7%, up 3.1 percentage points and adjusted EBIT margin grew to 19.8%, up 2.8 percentage points compared to the same period in 2017. Overall revenues for H1 2018 were up by 2.1% to EUR382.4m compared to H1 2017.Adjusted EBITDA grew 6.9% to EUR88.9m and adjusted EBIT rose 7.5% to EUR74.3m compared to the first half of 2017. Correspondingly, margins also improved over last year, with adjusted EBITDA margin and EBIT margin both increasing by 1.0 percentage point to 23.2% and 19.4% respectively. In Q2 2018, net profit increased by 101% to EUR24.8m, bringing earnings per share (EPS) to EUR0.68 in the quarter. For H1, cumulated net income increased by 55.4% to EUR44.8m representing H1 2018 EPS of EUR1.32. This was largely driven by a decrease in financial expenses by approximately 60% under the new capital structure in place since December 7, 2017. Operating cash flow in Q2 2018 was EUR26.8m and cash on hand at the end of the quarter amounted to EUR104.4m after having distributed the annual dividend for 2017 of EUR0.73 per share or EUR25m during the quarter. Javier Molina, CEO of Befesa, commented: "Despite the challenging macro-economic market dynamics that we are seeing recently in many areas of the markets where we operate, we have delivered another strong quarter of earnings growth, with steel dust volumes increasing according to our expectations. The H1 2018 results are in line with the guidance we provided at the beginning of the year of single digit earnings growth and we are focusing on our organic growth initiatives. With our efficient capital structure and financial expenses reduced to less than half, full year 2018 Net Income and EPS will be significantly higher compared to 2017." Key figures in EURm Q2 2017 Q2 2018 Change H1 2017 H1 2018 Change Revenues 201.6 187.0 -7.3 % 374.4 382.4 2.1% Adj. EBITDA 41.5 44.3 6.8% 83.1 88.9 6.9% Adj. EBIT 34.3 37.0 7.9% 69.1 74.3 7.5% in EURm Q2 2017 Q2 2018 Change H1 2017 H1 2018 Change Financial expenses 12.4 5.1 -58.9% 24.7 10.1 -59.1% Operating cash flow 3.9 26.8 >100% 32.4 36.7 13.2% EPS (in EUR) (0.01) 0.68 - (0.01) 1.32 - Webcasts Befesa will host a webcast on its second quarter results at 9am CEST on 30 August 2018. Further details, a replay and other events are available on the company's website: www.befesa.com About Befesa Befesa is a leading international provider of critical environmental regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France and the UK, as well as in Turkey and South Korea. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, Befesa manages and recycles more than 1,300kt of residues annually, with a production of more than 600kt of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources. Further information can be found on the company's website: www.befesa.com Investor Relations Rafael Pérez Email: [email protected] Befesa Management Services GmbH Balcke-Dürr-Allee 1 40882 Ratingen, Deutschland (Germany) Phone: +49 2102 1001 0 Media Relations Maximilian Karpf Email: [email protected] Phone: +44 7970 716 953 --------------------------------------------------------------------------- 30.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Befesa S.A. 46 Boulevard Grande-Duchesse Charlotte 1330 Luxembourg Luxemburg E-mail: [email protected] Internet: www.befesa.com ISIN: LU1704650164 WKN: A2H5Z1 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; London End of News DGAP News Service --------------------------------------------------------------------------- 718943 30.08.2018


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 661,08 611,69 724,79 720,09 647,94 604,33 0,00
EBITDA1,2 132,66 128,80 152,98 175,97 159,56 123,49 0,00
EBITDA-Marge3 20,07 21,06 21,11 24,44 24,63 20,43 0,00
EBIT1,4 39,97 84,31 122,44 146,97 123,98 67,92 0,00
EBIT-Marge5 6,05 13,78 16,89 20,41 19,13 11,24 0,00
Jahresüberschuss1 -31,00 20,74 54,96 94,89 87,90 46,89 0,00
Netto-Marge6 -4,69 3,39 7,58 13,18 13,57 7,76 0,00
Cashflow1,7 54,57 56,07 91,55 103,84 102,52 92,54 0,00
Ergebnis je Aktie8 -1,06 -1,58 1,24 2,65 2,43 1,40 1,90
Dividende8 0,00 0,00 0,00 1,32 0,73 1,17 1,17
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
Befesa
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2H5Z1 65,900 Kaufen 2.636,00
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
25,35 26,40 0,96 77,26
KBV KCV KUV EV/EBITDA
4,55 28,48 4,36 24,53
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,73 1,17 1,78 23.06.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
27.04.2021 29.07.2021 28.10.2021 25.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
7,70% 23,39% 28,46% 90,46%
    
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Umwelt/Recycling , A2H5Z1 , BFSA , XETR:BFSA