26.11.2018 Befesa S.A.  LU1704650164

DGAP-News: ​Moody's upgrades Befesa's rating to Ba2 with a stable outlook


 

DGAP-News: Befesa S.A. / Key word(s): Rating
​Moody's upgrades Befesa's rating to Ba2 with a stable outlook

26.11.2018 / 15:05
The issuer is solely responsible for the content of this announcement.


Moody's upgrades Befesa's rating to Ba2 with a stable outlook

Luxembourg, 26 November 2018 - Befesa S.A. ("Befesa"), the European market leader for steel dust and aluminium salt slags recycling services, today received an upgraded corporate family rating (CFR) from Moody's Investors Service. Moody's raised Befesa to a Ba2 grade, up one notch from its previous Ba3 rating, with a stable outlook.

Moody's also improved Befesa's probability of default rating (PDR) from Ba3-PD to Ba2-PD. The EUR 526 million senior secured Term Loan B, the EUR 75 million senior secured revolving credit facility, and the EUR 35 million senior secured guarantee line all received the same upgraded Ba2 rating.

The upgrade was largely driven by Befesa's improved leverage ratio as well as strong EBITDA results on the basis of increased steel dust recycling capacity in South Korea, aluminium salt slags capacity in Germany, and decreased financing costs. Moreover, Befesa's strong liquidity position, despite inaugural dividend payments and working capital outflows. The planned market entry in China also supported the required medium-term growth prospects and geographic diversification.

The stable outlook reflects the positive market trend with increasing environmental regulation supporting Befesa's business model, its leading position in a niche of the environmental services sector as well as its successful hedging programme, which limits the company's exposure to zinc price movements.

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



26.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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
Indices: SDAX
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

751171  26.11.2018 

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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 2,70
Dividende8 0,00 0,00 0,00 1,32 0,73 1,17 1,32
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 66,500 Kaufen 2.660,00
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
21,11 24,39 0,86 77,96
KBV KCV KUV EV/EBITDA
4,59 28,74 4,40 24,72
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,73 1,17 1,76 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
7,61% 23,10% 29,63% 95,59%
    
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Umwelt/Recycling , A2H5Z1 , BFSA , XETR:BFSA