Associates
Companies in which Bekaert has a significant influence, generally reflected by an interest of at least 20%. Associates are accounted for using the equity method.

Book value per share
Equity attributable to the Group divided by number of shares outstanding at balance sheet date.

Capital employed (CE)
Working capital + net intangible assets + net goodwill + net property, plant and equipment. The average CE is weighted by the number of periods that an entity has contributed to the consolidated result.

EBIT
Operating result (earnings before interest and taxation).

EBIT interest coverage
Operating result divided by net interest expense.

EBITDA
Operating result (EBIT) + depreciation, amortization, impairment of assets and negative goodwill.

Equity method
Method of accounting whereby an investment (in a joint venture or an associate) is initially recognized at cost and subsequently adjusted for any changes in the investor’s share of the joint venture’s or associate’s net assets (i.e. equity). The income statement reflects the investor’s share in the net result of the investee.

Gearing
Net debt relative to equity.

Joint ventures
Companies under joint control in which Bekaert generally has an interest of approximately 50%. Joint ventures are accounted for using the equity method.

Net debt
Interest-bearing debt net of current loans, non-current financial receivables and cash guarantees, short-term deposits, cash and cash equivalents. For the purpose of debt calculation only, interest bearing debt is remeasured to reflect the effect of any cross-currency interest-rate swaps (or similar instruments), which convert this debt to the entity’s functional currency.

Non-recurring items
Operating income and expenses that are related to restructuring programs, impairment losses, business combinations, business disposals, environmental provisions or other events and transactions that have a one-time effect.

REBIT
Recurring EBIT = EBIT before non-recurring items.

Subsidiaries
Companies in which Bekaert exercises control and generally has an interest of more than 50%.

Working capital (operating)
Inventories + trade receivables + bills of exchange received + advanced paid - trade payables - advances received - remuneration and social security payables - employment-related taxes.

better together

  • transmission-cable

    Situation

    Alcan and Bekaert joined forces to install 210 miles of transmission cable

    Solution

    Bekaert seamlessly adjusted the lengths of the reels to help Alcan’s trucks drive through mountainous terrain

    Result

    Alcan could meet their customer’s delivery requirements

  • ski

    Situation

    Skiers count on safety when they go up the mountain

    Solution

    In close cooperation Bekaert developed superior quality wires that meet the technical customer requirements of ropeway constructors

    Result

    The customer handles the production of the cables, but also on-site weaving (or splicing) and installation. The cables have a life expectancy up to 40 years

  • Bezinal-2000

    Situation

    Although zinc provides a barrier to corrosion in most environments, specific conditions accelerate the corrosion process

    Solution

    Bekaert, drawing from its deep expertise in coating technology, has developed an advanced zinc/aluminum coating

    Result

    Bezinal® 2000 increases corrosion resistance with up to 500% compared to traditional galvanization

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