Befesa : Outlook intact despite volatility in the short term
>Q2/H1 EBITDA broadly in line - Befesa released its Q2/H1 2023 results yesterday. Revenue fell by 6% in Q2 to € 294m. Adjusted EBITDA dropped by 22% to € 45m vs a consensus of € 46m (ODDO BHF at € 47m) while adjusted EBIT reached € 25m (-34.7%) vs our forecast of € 29m. Attributable net profit decreased by 78% to € 5.1m whereas we were expecting € 17m and the FactSet consensus € 16m. The difference between actual net profit and expectations was due to a deviation on t...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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