Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Tony Haag was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • May 13
NV Bekaert SA Approves Dividend, Payable on May 19, 2026 NV Bekaert SA at the annual general meeting of shareholders held on May 13, 2026 approved the distribution of a gross dividend of €1.95 per share. The dividend ex-date is 15 May 2026. The dividend will be payable on 19 May 2026. Duyuru • May 11
Bekaert Announces CEO Changes Bekaert has appointed Olivier Biebuyck as Chief Executive Officer. His extensive experience in leading, growing and transforming global industrial businesses, both organically and through acquisitions, will be a key enabler in delivering on Bekaert’s strategic ambitions for the future. The appointment takes effect on June 1, 2026. Yves Kerstens, current Chief Executive Officer and member of the Board of Directors of Bekaert, will conclude his mandate on May 31, 2026 after having led the company over the past years. Duyuru • Feb 26
Nv Bekaert Sa Proposes Dividend for 2025 NV Bekaert SA Proposed dividend increase from €1.90 to €1.95 per share, alongside ongoing €200 million share buyback for 2025. Duyuru • Jan 29
NV Bekaert SA (ENXTBR:BEKB) reached an agreement to acquire Bridgestone Metalpha (Thailand) Company Limited and Bridgestone (Shenyang) Steel Cord Co., Ltd. from Bridgestone Corporation (TSE:5108) for €60 million. NV Bekaert SA (ENXTBR:BEKB) reached an agreement to acquire Bridgestone Metalpha (Thailand) Company Limited and Bridgestone (Shenyang) Steel Cord Co., Ltd. from Bridgestone Corporation (TSE:5108) for €60 million on January 27, 2026. A cash consideration of €60 million will be paid by NV Bekaert SA. The transaction will be financed from available cash balances of NV Bekaert SA. The transaction is estimated to add approximately €80 million to Bekaert's consolidated sales on an annual basis. The transaction is part of the business restructuring and rebuilding in Bridgestone’s Mid-Term Business Plan (2024–2026), aimed at reinforcing business quality across the value chain.
The transaction is subject to applicable regulatory approvals and customary closing conditions and is expected to close in the first half of 2026. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Henriette Ellekrog was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 22
Nv Bekaert Sa Provides Earnings Guidance for the Fiscal Year 2025 NV Bekaert SA provides earnings guidance for the fiscal year 2025. For the period, the company expects sales of around €3.7 billion for Fiscal Year 2025. Duyuru • Mar 03
NV Bekaert SA, Annual General Meeting, May 14, 2025 NV Bekaert SA, Annual General Meeting, May 14, 2025. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Henriette Ellekrog was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 22
NV Bekaert SA Provides Consolidated Earnings Guidance for the Financial Year 2024 NV Bekaert SA provided consolidated earnings guidance for the financial year 2024. Consolidated sales slightly below €4 billion reflecting the ongoing effects of lower volumes and pricing and EBIT in the range of €340 million to €350 million. Reported Earnings • Aug 01
First half 2024 earnings released: EPS: €2.80 (vs €2.71 in 1H 2023) First half 2024 results: EPS: €2.80 (up from €2.71 in 1H 2023). Revenue: €2.06b (down 11% from 1H 2023). Net income: €146.7m (flat on 1H 2023). Profit margin: 7.1% (up from 6.3% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Duyuru • Jul 26
NV Bekaert SA Reaffirms Earnings Guidance for the Year 2024 NV Bekaert SA reaffirmed earnings guidance for the year 2024. The company’s resilient financial performance in first half and robust financial position gives confidence in its ability to further deliver on its strategic and financial priorities. There have been delays to some growth businesses and in this environment, management now expects a modest decline in sales in fiscal year 2024 against fiscal year 2023. Declared Dividend • Mar 11
Dividend of €1.26 announced Shareholders will receive a dividend of €1.26. Ex-date: 10th May 2024 Payment date: 14th May 2024 Dividend yield will be 2.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: €4.75 (vs €4.78 in FY 2022) Full year 2023 results: EPS: €4.75 (down from €4.78 in FY 2022). Revenue: €4.33b (down 23% from FY 2022). Net income: €254.6m (down 5.3% from FY 2022). Profit margin: 5.9% (up from 4.8% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 01
Now 20% undervalued Over the last 90 days, the stock has risen 7.0% to €45.56. The fair value is estimated to be €57.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to decline by 4.5% per annum. Earnings are forecast to grow by 11% per annum over the same time period. Duyuru • Nov 17
NV Bekaert SA Provides Earnings Guidance for the Year 2023 NV Bekaert SA provided earnings guidance for the year 2023. For the year, the company expects Consolidated sales of approximately €4.3 billion reflecting the ongoing reversal of raw material cost inflation and the normalization of energy surcharges in 2022 .EBIT margin in the range of 8.5-8.7% (up from 8.2% last year). New Risk • Oct 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Shareholders have been diluted in the past year (5.5% increase in shares outstanding). New Risk • Oct 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Reported Earnings • Aug 02
First half 2023 earnings released: EPS: €2.71 (vs €3.80 in 1H 2022) First half 2023 results: EPS: €2.71 (down from €3.80 in 1H 2022). Revenue: €2.32b (down 8.2% from 1H 2022). Net income: €146.7m (down 32% from 1H 2022). Profit margin: 6.3% (down from 8.6% in 1H 2022). Revenue is forecast to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Duyuru • May 11
Nv Bekaert Sa Approves Dividend, Payable on May 15, 2023 NV Bekaert SA announced at the AGM held on Mau 10, 2023 that the company approved distribution of a gross dividend of €1.65 per share. The dividend ex-date is 11 May 2023. The dividend will be payable on 15 May 2023 by the following banks: ING Belgium, Bank Degroof Petercam, BNP Paribas Fortis, KBC Bank and Belfius Bank in Belgium, Société Générale in France, ABN AMRO Bank in the Netherlands and UBS in Switzerland. Duyuru • May 10
NV Bekaert SA Provides Earnings Guidance for the Year 2023 NV Bekaert SA provided earnings guidance for the year 2023. For the year, the company increases confidence in the delivery of expectations in 2023 and profitability ambitions of 9%-11% EBIT margin in the medium term, which remain unchanged. Upcoming Dividend • May 04
Upcoming dividend of €1.16 per share at 3.9% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 15 May 2023. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.7%). Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: EPS: €4.78. Revenue: €5.65b (up 17% from FY 2021). Net income: €268.9m (up €268.9m from FY 2021). Profit margin: 4.8% (up from 0% in FY 2021). Revenue is expected to fall by 5.3% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: €4.78 (vs €7.14 in FY 2021) Full year 2022 results: EPS: €4.78 (down from €7.14 in FY 2021). Revenue: €5.65b (up 17% from FY 2021). Net income: €268.9m (down 34% from FY 2021). Profit margin: 4.8% (down from 8.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 2.9% p.a. on average during the next 2 years compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Henriette Ellekrog was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €208.1m from profit in 1H 2021). Profit margin: (down from 9.0% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 3.8% compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 05
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 16 May 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of German dividend payers (4.1%). Lower than average of industry peers (7.8%). Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: €7.14 (vs €2.38 in FY 2020) Full year 2021 results: EPS: €7.14 (up from €2.38 in FY 2020). Revenue: €4.84b (up 28% from FY 2020). Net income: €407.0m (up 202% from FY 2020). Profit margin: 8.4% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 31% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €30.42, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.86 per share. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €7.14 (up from €2.38 in FY 2020). Revenue: €4.84b (up 28% from FY 2020). Net income: €407.0m (up 202% from FY 2020). Profit margin: 8.4% (up from 3.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.2%. Over the next year, revenue is expected to shrink by 2.6% compared to a 8.8% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 25
Now 21% undervalued Over the last 90 days, the stock is up 8.7%. The fair value is estimated to be €49.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% per annum over the last 3 years. Earnings per share has grown by 46% per annum over the last 3 years. Reported Earnings • Aug 05
First half 2021 earnings released: EPS €3.66 (vs €0.59 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €2.31b (up 30% from 1H 2020). Net income: €208.1m (up €174.7m from 1H 2020). Profit margin: 9.0% (up from 1.9% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 07
Upcoming dividend of €0.70 per share Eligible shareholders must have bought the stock before 14 May 2021. Payment date: 18 May 2021. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (4.4%). Reported Earnings • Mar 30
Full year 2020 earnings released: EPS €2.38 (vs €0.73 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €3.77b (down 13% from FY 2019). Net income: €134.7m (up 226% from FY 2019). Profit margin: 3.6% (up from 1.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 28
New 90-day high: €30.46 The company is up 18% from its price of €25.90 on 27 November 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 56% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.08 per share. Is New 90 Day High Low • Jan 08
New 90-day high: €28.86 The company is up 59% from its price of €18.17 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 53% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.73 per share. Is New 90 Day High Low • Dec 07
New 90-day high: €27.30 The company is up 53% from its price of €17.79 on 08 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.74 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €20.40 The company is up 16% from its price of €17.55 on 13 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €29.13 per share. Is New 90 Day High Low • Oct 16
New 90-day high: €18.77 The company is up 9.0% from its price of €17.23 on 17 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.08 per share.