Bekaert’s sales up 30.3% in Jan-Sept due to higher volumes

Tuesday, 23 November 2021 15:13:38 (GMT+3)   |   Istanbul

Belgium-based Bekaert, one of the world’s largest steel cord and wire manufacturers, has announced that in the third quarter this year it achieved consolidated sales of €1.25 billion, up by 6.8 percent compared to the second quarter and rising by 26.1 percent year on year.

In the first nine months this year, the company achieved consolidated sales of €3.56 billion, up by 30.3 percent year on year. The growth was due to higher volumes and a positive impact from wire rod price changes. 

The company stated that demand continued to benefit from the post-pandemic rebound and remained strong across many geographies, with the exception of China. The global supply chain remains constrained due to raw material shortages. Bekaert stated that it implemented a strong pricing system, resulting in the mitigation of raw material price increases and other costs.

Bekaert anticipates to achieve sales totaling approximately €4.6 billion for the financial year 2021.

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