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Key figures

Weefsel Bekaert has always chosen to respond to international standards. The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) which have been adopted by the European Union.

 

 

 Long term guidance

 

L/T guidance   2009 2008 2005 - Actual 1990  - 2004
Growth GDP + -8.5% 22.5% 6.4% 1.5%
ROIC > WACC > 10,5>8,5 13.0>8.7 10.5>8.1 6.5<9.3
Cash flow generation (EBITDA on sales) 15% 15.8% 15.5% 13.5% 11.8%
EBIT 7% - 9% 9.5% 7.9% 7.4% 4.6%
Recurring EBIT   10.5% 11.1% 8.8% 4.4%
Working capital
(on sales)		 20% 24% 22% 23% 19%
Dividend pay out 40% 38% 32% 35% 52%
Tax 25% 20% 16% 20% 22%
Debt           
Financial autonomy  (equity/total assets)  40% 49% 44% 47% 48%
Gearing
(net debt/equity) 		 50% 29% 54% 41% 37%
Financing
(net debt /EBITDA)		 <2 1.0 1.5 1.5 1.7

 

Income statement

in millions of € 2008 2009 Trend
Sales 2 662 2 437 -8.5%
Operating result before non-recurring items (REBIT)  294 257 -12.7%
Operating result (EBIT) 210 232 10.3%
Non-recurring items -84 -25 -70.7%
Financials -49 -66 33.3%
Income taxes -26 -34 32.8%
Group share joint ventures 56 38 -32.7%
Result for the period 192 170 -11.1%
   attributable to the Group 174 152 -12.8%
   attributable to minority interests 18 18 4.3%
EBITDA 412 386 -6.5%
Cash flow 376 305 -18.8%
Depreciation PP&E 125 139 11.4%
Amortization and impairment  77 15 -81.0%

Balance sheet

in millions of € 2008 2009 Trend
Equity  1 172 1 374 17.2%
Non-current assets 1 409 1 536 9.0%
Capital expenditure (PP&E) 239 158 -33.6%
Balance sheet total 2 667 2 830 6.1%
Net debt 627 395 -37.0%
Capital employed  1 835 1 752 -4.5%
Working capital  653 519 -20.5%
Employees as at 31 December 16 971 18 103 6.7%

Ratio's

2008 2009
EBITDA on sales 15.5% 15.8%
REBIT on sales 11.1% 10.5%
EBIT on sales  7.9% 9.5%
EBIT interest coverage 5.5 4.9
ROCE 12.5% 12.9%
ROE  16.5% 13.4%
Capital ratio 44.0% 48.5%
Gearing (Net debt on equity) 53.5% 28.8%
Net debt on EBITDA 1.5 1.0
 

better together

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Situation

Request for close contact with and tailor-made advice from Bekaert.

Solution

Bekaert teams visit customers’ plants to check on how our product is performing.

Result

Close to our steel cord customers, literally and figuratively.

BEKB stock exchange

M-Bekaert

Investors goes mobile!