Please find attached a press release concerning the 2013 half year results of Bekaert.
Summary:
Highlights
Bekaert maintained stable volumes and gross margins in the first half of 2013. While depressed markets, competitive price pressure and unfavorable currency movements affected the Group's top line by 7.5%, the effects were offset at the REBIT level thanks to the restructuring measures of 2012 and the realized cost savings.
- Consolidated sales of € 1.65 billion (-7.5%) and combined sales of € 2.14 billion (-5.1%)
- Gross profit of € 249 million (15.1% margin) compared with € 268 million (15.0% margin)
- REBIT of € 91 million (5.5% margin) compared with € 85 million (4.8% margin)
- Non-recurring items of € -2.3 million compared with € -80.9 million
- EBIT of € 89 million (5.4% margin) compared with € 4 million (0.2% margin)
- EBITDA of € 172 million (10.4% margin) compared with € 160 million (9.0% margin)
- EPS: € 0.45 compared with € -1.35
- Net debt of € 770 million, down from € 866 million as of 30 June 2012