Bekaert makes a very strong start to 2021
All-time high quarterly sales – substantial volume growth
Highlights
- Record-high quarter revenue: consolidated sales of € 1 128 million (+19%) and combined sales of € 1 339 million (+23%)
- Global demand rebound and strong momentum in Latin American and Indian markets
- Working capital on sales further down to 13%, despite the impact from wire rod price increases
- More than € 1 billion cash on hand with € 60 million incremental liquidity over year-end 2020
- Strong balance sheet: debt deleveraging continued in the first quarter
Our business focus and priorities
- Continued focus on protecting the health and safety of our employees and their families through the Covid-19 pandemic
- Secured raw material supplies to ensure delivery continuity to customers worldwide
- Further accelerated profit restoration and improvements across all business units and at Group level
- Product and business mix improvements, in line with our strategy to upgrade the business portfolio
- Pricing discipline aligned with raw materials price evolutions
- Continued effective control on cost and working capital
Attachment