Belgium-based Bekaert, one of the world’s largest steel cord and wire manufacturers, has announced its financial results for the first half of 2022.
In the first half, the company achieved consolidated sales of €2.86 billion, up by 24.3 percent year on year, its EBITDA increased by 1.3 percent compared to the same period of last year to €377 million, while its EBITDA margin decreased to 13.2 percent from 16.1 percent in the first half of 2021.
Despite high inflation, supply chain challenges, lockdowns in China and weaker demand in certain countries, Bekaert delivered a strong performance in the first half, driven by strong price realization.
The company stated that the 2022 outlook remains particularly volatile due to macroeconomic and geopolitical uncertainties.