Bekaert: Third quarter trading update 2013
Please find attached a press release concerning the 3rd quarter trading update 2013 of Bekaert.
Bekaert: third quarter trading update 2013
Bekaert maintained stable sales volumes in the first nine months of 2013, compared with the same period of last year. The Group achieved consolidated sales of € 2 422 million and combined sales of € 3 142 million.
The strong euro and a drastic depreciation of the Venezuelan bolivar in the third quarter of 2013 have led to significant unfavorable translation effects in Bekaert's top-line. Compared with the first nine months of 2012, the year-to-date 2013 currency impact on consolidated sales was attributable to Venezuela (-3.1%) and in part also to the foreign exchange evolution of other currencies (-1.8%). The net effect of acquisitions and divestments was limited to +1.2%. Notwithstanding stable volumes, the organic sales decline was -4.8% as a result of price-mix effects. In total, consolidated sales thus decreased by -8.5%.
At the combinedlevel, sales were down 6.5% in comparison with the first nine months of 2012. Currency translation effects accounted for -6.4% (-2.4% related to the Venezuelan activities and -4.0% to fluctuations of other currencies, including the Brazilian real). The net effect of acquisitions and divestments was limited to +0.9% and compensated for a slight organic decline of -1.0% year-on-year.