BEKB Bekaert SA

Bekaert: Assembléés Générale des Actionnaires

Bekaert: Assembléés Générale des Actionnaires

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EN
08/05/2024

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Reports on Bekaert SA

David Vagman ... (+3)
  • David Vagman
  • CFA
  • Stijn Demeester

Bekaert/To catch up following slow start to 2024F/HOLD

Following Bekaert's 1Q24 trading update, we trim our estimates and reiterate our HOLD rating on a lowered target price of €49 per share. While Bekaert management upheld its guidance of ‘modest sales growth' and ‘at least stable' margins for 2024F, we believe the company has to step up its performance in the next three quarters to compensate for a slower start to the year, marked by an organic decline of 13% YoY.

Martijn Den Drijver
  • Martijn Den Drijver

Bekaert : Staying on the side lines (no material positive catalysts)

>Reiterating our Neutral rating, TP unchanged - Bekaert is doing the sensible thing. Focus on margins, restructure where possible, make small or medium sized acquisitions (planned) and give new products sufficient funding and management attention so that they have a good chance of generating a material revenue stream with a robust margins. We assume solid growth and margins for Dramix and Currento (and potentially Armofor), the key growth drivers and the true sustaina...

 PRESS RELEASE

Bekaert: General Meetings of Shareholders

Bekaert: General Meetings of Shareholders General Meetings of Shareholders -           Approval of a gross dividend of € 1.80-           Approval of the proposed reappointments On Wednesday 8 May 2024, Bekaert’s Annual General Meeting of Shareholders took place chaired by Jürgen Tinggren, Chairman of the Board of Directors. The following main subjects were considered. The meeting approved the balance sheet and the income statement per 31 December 2023, as submitted by the Board of Directors, including the distribution of a gross dividend of € 1.80 per share.The dividend ex-date ...

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