Bekaert: first quarter trading update 2012
Please find attached a press release concerning the Bekaert first quarter trading update 2012.
In the first quarter of 2012 Bekaert achieved consolidated sales of € 895 million and combined sales of € 1 135 million, a decrease of 2.6% and 7.9% respectively, compared to the first quarter of 2011, while considerably exceeding top line sales of the last quarter of 2011.
The drastic demand and price evolution in the sawing wire market, which impacted Bekaert's activities as from May 2011, drove organic consolidated sales down by 13.7% in comparison with the exceptionally strong first quarter of 2011. The net effect of acquisitions and divestments contributed 8.3%. Currency movements had a positive effect of 2.9%.
Combined sales declined 7.9%. The net movement in acquisitions and divestments was slightly negative (-1.1%) while currency movements contributed 2.0%. Compared to the last quarter of 2011, combined sales increased by 8.2%.