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Bekaert: First quarter trading update 2021

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·1 min read
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Bekaert makes a very strong start to 2021
All-time high quarterly sales – substantial volume growth

Highlights

  • Record-high quarter revenue: consolidated sales of € 1 128 million (+19%) and combined sales of € 1 339 million (+23%)

  • Global demand rebound and strong momentum in Latin American and Indian markets

  • Working capital on sales further down to 13%, despite the impact from wire rod price increases

  • More than € 1 billion cash on hand with € 60 million incremental liquidity over year-end 2020

  • Strong balance sheet: debt deleveraging continued in the first quarter

Our business focus and priorities

  • Continued focus on protecting the health and safety of our employees and their families through the Covid-19 pandemic

  • Secured raw material supplies to ensure delivery continuity to customers worldwide

  • Further accelerated profit restoration and improvements across all business units and at Group level

    • Product and business mix improvements, in line with our strategy to upgrade the business portfolio

    • Pricing discipline aligned with raw materials price evolutions

  • Continued effective control on cost and working capital


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