Half Year 2026 NV Bekaert SA Earnings Call Transcript

Jul 30, 2026 / 09:00 AM GMT

Release Date Price: €41.7

Transcript

Key Points

Positve

NV Bekaert SA (BEKAY) delivered 4% like-for-like volume growth in H1 2026, driven by strong demand from Asian tire manufacturers and growth in power/data transmission.
The company maintained an EBIT margin above 8% despite inflationary pressures, demonstrating business model resilience.
Specialty businesses saw a 77% increase in EBIT, with margins improving to 12.6%, fueled by data center projects and energy transition initiatives.
The balance sheet remains strong with a low leverage of 0.8x, supporting disciplined capital allocation including dividends and share buybacks.
New CEO Olivier Bieberg is focused on reshaping the portfolio towards profitable growth, with potential for organic and inorganic expansion in engineered solutions.

Negative

Middle East conflict caused inflationary pressure and supply chain disruptions, leading to temporary margin pressure from pass-through time lags.
Rubber reinforcement margins declined due to a regional demand shift towards Asia, where profitability is lower than in Europe.
The ropes business (PPRG) faced operational challenges in US and UK plants, contributing to a 7% volume decline and impacting H1 results.
Unfavorable price and mix effects, including project delays in European transmission and a shift to mature applications, weighed on overall profitability.
Full-year 2026 outlook expects like-for-like sales to be similar to 2025 and EBIT margins slightly below, amid continued geopolitical uncertainty.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BEKB.BR - NV Bekaert SA
Half Year 2026 NV Bekaert SA Earnings Call
Jul 30, 2026 / 09:00AM GMT

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