Frequently asked questions

Bekaert boilerplate

Bekaert’s ambition is to be the leading partner for shaping the way we live and move, and to always do this in a way that is safe, smart, and sustainable. As a global market and technology leader in material science of steel wire transformation and coating technologies, Bekaert also applies its expertise beyond steel to create new solutions with innovative materials and services for markets including new mobility, low-carbon construction, and green energy. Founded in 1880, with its headquarters in Belgium, Bekaert (Euronext Brussels, BEKB) is a global company whose 27 000 employees worldwide together generated almost € 7 billion in combined revenue in 2022.

In which sectors is Bekaert present?

Sectorial breakdown of Bekaert's combined sales: (FY 2021)

On combined sales FY2021 

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 70% of Bekaert’s current revenue and include:

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

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 130 countries.

How many people are employed at Bekaert? (YE 2021)

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 and € 67 million in 2021 (gross spend before deduction of investment grants received). 

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% over 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.

How much does Bekaert invest in R&D?

The purpose of the program is to reduce the issued share capital of the company. All shares repurchased as part of this arrangement will be cancelled.

Bekaert’s reference shareholder, Stichting Administratiekantoor Bekaert (STAK) and the parties acting in concert with the STAK, have informed the company that they commit to take appropriate measures to ensure that their voting rights in Bekaert’s share capital will not exceed the current level (i.e. 36.13%) by the end of the implementation of the program.

The Board of Directors seeks to maintain a balanced approach between funding future growth and enhancing shareholders’ returns. Based on the FY 2021 results, the Board:

  • proposed to the Annual General Meeting of Shareholders of 13 May 2022 a 50% gross dividend increase to € 1.50 per share.
  • approved a share buyback program of an amount up to € 120 million, initiated in March 2022. Under the program, Bekaert may repurchase outstanding shares for a maximum consideration up to € 120 million, over a period up to twelve months.

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.  

  Consolidated sales Underlying EBIT margin
Mid-term targets (2023-2026) 3%+ CAGR organic 9-11% through the cycle

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

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

What is the composition of the Board of Directors?

The Board of Directors consists of 10 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 10 May 2023:

  • Mr. Jürgen Tinggren, Chairman (*)
  • Mr. Yves Kerstens, CEO
  • Ms. Henriette Fenger Ellekrog (*)
  • Mr. Christophe Jacobs van Merlen
  • Mr. Maxime Parmentier
  • 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 Eriikka Söderström, independent Board member
  • Jürgen Tinggren, Chairman of the Board, independent Board member
  • Grégory Dalle, Board member
  • Henri Jean Velge, 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 Integrated annual 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.