Half Year 2026 Befesa SA Earnings Call Transcript

Jul 29, 2026 / 07:00 AM GMT

Release Date Price: MXN689.53 (+14.81%)

Transcript

Key Points

Positve

Befesa SA (BFSAF) reported a strong first half of 2026 with an 11% increase in adjusted EBITDA to EUR 124 million, driven by solid volume growth and favorable LME price developments.
The company's EBITDA margin improved significantly to 22% in Q2 2026 from 19% in the same quarter of 2025.
Financial leverage was reduced to 2.19 in June 2026, down from 2.7 in June 2025, indicating a continued deleveraging trend.
Befesa SA (BFSAF) confirmed its EBITDA guidance for the full year 2026 in the range of EUR 250 million to EUR 270 million, reflecting confidence in continued earnings growth.
The company is strategically positioned to benefit from the expansion of electric arc furnace steelmaking in Europe and the U.S., with plans to increase capacity and utilization rates.

Negative

The secondary aluminum business continues to face challenges due to high scrap leakage in Europe and weak demand from automotive customers.
General inflation, particularly in fuel costs, has accelerated, posing a headwind to profitability.
The impact of FX movements, specifically the euro to US dollar exchange rate, was negative in the first half of the year.
The geopolitical and macroeconomic environment remains volatile, which could impact future performance.
Despite improvements, the aluminum salt slag recycling business experienced flat volumes year-over-year, indicating ongoing market challenges.

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

BFSA.DE - Befesa SA
Half Year 2026 Befesa SA Earnings Call
Jul 29, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to the BFESA first half 2026 results conference call. I am Valentina, the Corvos call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded.

The presentation will be followed by Q&A session. You can register for questions at any time by pressing star and one on your telephone.

For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Rafael Perez, CFO. Please go ahead.

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Unidentified_2 [2]
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