Frequently asked questions - Bekaert.com

Frequently asked questions



Bekaert boilerplate

Bekaert (bekaert.com) is a world market and technology leader in steel wire transformation and coating technologies. We pursue to be the preferred supplier for our steel wire products and solutions by continuously delivering superior value to our customers worldwide. Bekaert (Euronext Brussels: BEKB) is a global company with more than 27 000 employees worldwide, headquarters in Belgium and € 4.4 billion in combined revenue in 2020.

In which sectors is Bekaert present?

Sectorial breakdown of Bekaert's combined sales: (FY 2020)

Donut chart of sectorial breakdown

In its new strategy for the coming five years, Bekaert has identified the target markets in which the company will explore robust growth opportunities driven by the megatrends. These target markets represent more than 80% of Bekaert’s current revenue and include:

  • New mobility
  • Construction
  • Lifting and hoisting
  • Energy and utilities
  • Agriculture

The growth opportunities will be explored with existing solutions and new innovations in both core and adjacent markets.

Where is Bekaert active? 

Bekaert has a global manufacturing footprint with 75 production plants and a distribution network serving customers in 120 countries.

World map with Bekaert locations  

How many people are employed at Bekaert? (YE 2020)

Bekaert employs more than 27 000 people globally.  

How much does Bekaert invest in R&D?

On average,  the consolidated R&D expenses amounted to approximately € 60 million annually in the period 2016-2020. 

As part of the new strategy of Bekaert, the company will raise its research and innovation efforts in coming years and will lift the annual spend by approximately +50% by the end of the next five years.  

Bekaert operates R&D centers in Belgium, China, India and the UK.

What is the dividend policy of Bekaert?

It is the policy of the Board of Directors to propose a profit appropriation to the Annual General Meeting which, insofar as the profit permits, provides a stable or growing dividend while maintaining an adequate level of cash flow in the company for investments and self-financing growth. In practice, this means that the company seeks to maintain a pay-out ratio of around 40% of the result for the period attributable to the Group over the longer term.

Read more about our dividend policy.

What is Bekaert’s shareholders’ structure?

See the dedicated page for more info about Bekaert's shareholders' structure.

When was the Bekaert share first listed?

The share was first listed in December 1972. Read more about the Bekaert share in the fact sheet

Does Bekaert give result guidance?

The company discloses outlook metrics in its financial press releases.

Short-term outlook (2021) and mid-term (2022-2026) guidance:

  Consolidated sales Underlying EBIT margin FCF yield Net debt leverage
Mid-term targets (2022-2026)  3%+ CAGR organic 8-10% through the cycle ~100% FCF/net result < 1.5 net debt/uEBITDA
Restated 2021 outlook  >= € 4.4 mld >= 80 bps above FY 2020   < 1.0

When will the next Annual General Meeting of Shareholders take place?

The General Meeting of Shareholders takes place every second Wednesday of May.
2022: 11 May

What is the composition of the Board of Directors?

The Board of Directors consists of 13 members, who are appointed by the General Meeting of Shareholders. The Chairman and the Chief Executive Officer are never the same individual. The Chief Executive Officer is the only Board member with an executive function. All other members are non-executive Directors.

Composition Board of Directors as from the General Meeting of Shareholders of 12 May 2021:

  • Mr. Jürgen Tinggren, Chairman (*)
  • Mr. Oswald Schmid, CEO
  • Mr. Grégory Dalle
  • Ms. Henriette Fenger Ellekrog (*)
  • Mr. Charles de Liedekerke
  • Mr. Christophe Jacobs van Merlen
  • Mr. Hubert Jacobs van Merlen
  • Mr. Colin Smith (*)
  • Ms. Eriikka Söderström (*)
  • Ms. Caroline Storme
  • Ms. Emilie van de Walle de Ghelcke
  • Mr. Henri Jean Velge
  • Ms. Mei Ye (*) 

(*) Independent Directors

What are the committees of the Board of Directors?

The Board of Directors has established two advisory Committees.

the Audit, Risk and Finance Committee

  • Chaired by Hubert Jacobs van Merlen, Board member
  • Jürgen Tinggren, Chairman of the Board, independent Board member
  • Charles de Liedekerke, Board member
  • Eriikka Söderström, independent Board member

the Nomination and Remuneration Committee

  • Chaired by Jürgen Tinggren, Chairman of the Board, independent Board member
  • Henriette Fenger Ellekrog, independent Board member
  • Christophe Jacobs van Merlen, Board member

How is Bekaert organized?

Bekaert's organizational structure consists of four Business Units and four Global Functional Domains. Read more about it on the Executive Management page

What is Bekaert's strategy on sustainability?

To us, sustainability is about economic success, the safety and development of employees, environmental stewardship, and social progress. This way, Bekaert translates sustainability into a benefit for all stakeholders.

Bekaert annually reports on sustainability performance, actions, and targets in its Sustainability Report.

As part of the company’s strategy for the coming years, Bekaert is raising its efforts and targets through a clear and ambitious sustainability strategy. Read more about Bekaert’s current sustainability actions and 2030 targets on the sustainability page.

Who is the Statutory Auditor?

The company’s Statutory Auditor is EY Bedrijfsrevisoren BV. The appointment of EY was approved by the Annual General Meeting of Shareholders of 12 May 2021 for a term of three years, until the Annual General Meeting to be held in 2024.