Befesa : A good entry point despite the uncertainties
>Q1 in line with Q4 2022 and with expectations - Befesa yesterday morning reported its Q1 2023 results and issued guidance for 2023. Q1 was in line with expectations, with EBITDA of € 50.1m, down 18%, vs a consensus and our expectations of € 49m. Net income came in at € 15.2m (-44%) vs € 18m expected by the FactSet consensus. Unsurprisingly, the group’s performance in Q1 was relatively weak, impacted by: 1/ volumes under pressure from the stoppage in Turkey for mainte...Befesa is a services company principally engaged in the collection and recycling of steel dust and aluminum residues and other related industrial services and logistics. Co. also offers industrial recycling services to hazardous waste markets. Co. organizes its activities into three business segments: steel dust recycling services, salt slags recycling services and secondary aluminum production.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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