Bekaert - First quarter trading update 2014



14-May-2014

Press release

Summary & download

Please find attached a press release concerning the Bekaert first quarter trading update 2014.

Summary:

Bekaert reports strong volume growth, offset by currency impact

Bekaert reports a strong start to the year with a solid volume increase driven by higher demand in Europe and Asia. The organic sales growth was, however, more than offset in Bekaert's top-line due to the adverse effects of currency movements.

In the first quarter of 2014 Bekaert achieved consolidated sales of € 782 million and combined sales of € 990 million, a decrease of 2.1% and 4.4% respectively, compared with the first quarter of 2013. On a constant currency basis, Bekaert's revenues increased by more than 4%.

Consolidated sales increased 4.2% organically. Exchange rate effects (-5.9%) and the net effect of acquisitions and divestments (-0.4%) cancelled out the growth entirely.

Combined sales increased by 4.9% on an organic basis. A substantially weaker Brazilian real added to the negative currency impact at the combined level (-8.2%), while acquisitions and divestments had little effect (-0.3%).

 

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