Bekaert: First quarter trading update 2019
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Bekaert delivers 4% sales growth in the first quarter of 2019
Bekaert achieved consolidated sales of € 1 094 million for the first quarter of 2019, up 4% from the same period last year. Consolidated sales reflected +2.2% organic growth, driven by the aggregate effect (+2.7%) of price-mix and passed-on changes in wire rod prices, on slightly lower volumes (-0.5%). Currency movements contributed +2.1% to the top line and the net effect of mergers, acquisitions and divestments was limited (-0.4%).
Demand from tire and construction markets remained strong and resulted in firm volume growth. This growth was more than offset by the slowdown in industrial steel wire markets and the decline in sawing wire sales.
Combined sales increased by 3.4% to € 1 294 million. The organic growth was +3% and the effect of divestments was -0.3%. The effect of currency movements was limited to +0.7% as a result of a weaker Brazilian real, compared with the same quarter last year.