Befesa : EBITDA rebound expected in 2024 not currently priced in
>2023 operating figures in line, net profit higher than expected - Befesa released its Q4 2023 results yesterday. EBITDA fell by 11% y-o-y to € 45m, which is slightly above the consensus and our own forecast of € 44m. Compared with the same period last year, EBITDA in Q4 2023 was penalised by: 1/ lower average zinc prices, corresponding to an impact of -€ 12m; 2/ higher treatment charges, i.e. an impact of -€ 2m; and 3/ lower aluminium FMB prices (-€ 5m). On the othe...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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