Belgium-based steel cord and wire manufacturer Bekaert has announced its financial results for the first half this year.
In the first half, the company achieved consolidated sales revenues of €2.32 billion, down by 8.2 percent year on year due to lower sales volumes and an unfavorable impact from exchange rate movements, its EBITDA decreased by seven percent compared to the same period of last year to €317 million, while its EBITDA margin increased to 13.7 percent from 13.5 percent in the first half of 2022.
The disposal of the company’s Steel Wire Solutions businesses in Chile and Peru remains on track and is expected to close in the second half of the current year.
Bekaert anticipates the competitive and challenging environment to persist in the second half.
