Befesa : After the headwinds of 2023, a very sharp rebound expected for 2024
>Q3 2023 results relatively lacklustre as expected - Q3 2023 EBITDA came in at € 42m, down 8.5% y-o-y, a shade below the company-compiled consensus and our own expectations of € 44m (see additional details p.2). Adjusted EBIT in Q3 2023 totalled € 22.1m, down 16.7% and net profit at € 7m, down 80%. After € 50m in Q1 2023, € 45m in Q2 2023 and € 42m in Q3, 9M 2023 EBITDA stood at € 137m, down by 16.6%.Downgrade to 2023 EBITDA guidance to € 180m (vs ~€ 200...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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