People’s behaviours are changing towards new ways of living. Global communities are evolving at a dynamic speed of growth.
We believe it’s our responsibility to contribute to finding solutions for these challenges. Bekaert has always been a pioneer and we will continue to bring our expertise to make a positive difference for future generations.
Join us in our ambition to shape the way we live and move.
Yves Kerstens
Chief Executive OfficerOur ambition is to create sustainable value for all our stakeholders. We commit to high performance as this allows us to return shareholder value to the investors who enable us to develop and grow our business.
Bekaert’s Integrated Annual Report 2023 provides material information on Bekaert for the year ending 31 December 2023. It offers a comprehensive view on how we create value for our stakeholders through the progress we make on financial and ESG-performance indicators. Our approach puts the value and impact we create, as a company, in a broader perspective: beyond reporting, beyond financials, beyond tomorrow.
The report is available in English and Dutch.
The full report can be accessed here: https://annualreport.bekaert.com
On Thursday, 7 December 2023, Bekaert held a Capital Markets Day for institutional investors and analysts in London, at the Institution of Engineering and Technology.
The event was hosted by members of Bekaert‘s senior leadership team including CEO, Yves Kerstens and CFO, Taoufiq Boussaid, who outlined our strategic priorities and prospects for the years ahead.
Bekaert has delivered a resilient performance in the first nine months of 2023, despite many of our end markets remaining challenging. Sales of € 3 355 million (-13% against the same period in 2022) were lower in this period, as anticipated, from the reversal of raw material cost inflation and the normalization of energy surcharges in previous periods, and lower volumes, partially offset by a stronger mix.
Bekaert continues to benefit from the execution of its strategy, with business selection driving price and mix improvements, alongside excellent cash conversion and cost discipline. The group is also making good progress in developing its new growth platforms and with the completion of the disposal of the Steel Wire Solutions businesses in Chile and Peru, Bekaert continues its repositioning into markets with higher growth and margin.
Sales at € 2.3 billion • EBITu of € 226 million (margin 9.7%) • Free Cash Flow of € 80m • ROCE 20.5% • Net debt/EBITDAu of 0.8x
Bekaert delivered another period of robust profitability and cash flows, and has addressed pro-actively weaker conditions in many of its end markets. Despite lower volumes, the core businesses continue to benefit from the successful execution of Bekaert’s strategy, alongside swift actions in the period to maintain pricing discipline and cost efficiencies. Whilst looking beyond, the repositioning to target new opportunities from the energy transition and decarbonization trends continues, with growing demand in a range of new products.
Imagine the power of diverse people around the world all thinking together.
Kerstin Artenberg
Chief Human Resources Officer
