Full Year 2024 NV Bekaert SA Earnings Call Transcript
Key Points
- NV Bekaert SA (BEKAY) achieved a EUR4 billion top line and an EBITDA margin around 9%, which is on the higher end of their guidance.
- The company successfully integrated acquisitions in the synthetic rubber business, including BEXCO and Flintstone, contributing positively to their portfolio.
- Strong cash generation was reported, with a free cash flow of EUR193 million for 2024, despite lower sales and EBITDA levels.
- The Steel Wire Solutions segment saw an EBIT margin increase to 10.4%, thanks to mix improvements and footprint optimization.
- NV Bekaert SA (BEKAY) announced a proposed dividend increase of 6% year on year, reflecting their commitment to shareholder returns.
- Sales were down 9% compared to the previous year, primarily due to lower sales in bead wire markets and reduced volumes.
- The company faced operational challenges in Europe and North America, impacting profitability in the first half of the year.
- There was a reported 9.5% decline in sales for the wrap-up reinforcement segment, mainly due to material and energy cost reductions.
- The Hydrogen business experienced project cancellations and policy uncertainty, slowing down expected progress.
- The specialty business segment saw a sharp profitability drop in the second half of 2024, reaching levels not seen since 2020.
Good morning, and welcome to the Bekaert 2024 results call. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to turn the floor over to your host, Guy Marks, VP, Investor Relations. Sir, the floor is yours.
Many thanks, and good morning for me and so glad you could all join us today for the 2024 full year results. I'm here with Yves Kerstens, CEO; and Seppo Parvi, CFO. And before handing over to them, let me just take you through the Safe Harbor.
And just to remind, this presentation may contain forward-looking statements. Such statements reflect the current views of management regarding future events and involve known and unknown risks, uncertainties, and other factors that may create -- cause actual results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
Bekaert is providing the information in this presentation as and does not undertake any obligation to
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