Report
Anis Zgaya ...
  • Louis Boujard, CFA

Befesa : We remain optimistic despite uncertainty primarily linked to coke

>No major surprises in the 2022 publication - Yesterday, Befesa published its preliminary 2022 results. Adjusted EBITDA in 2022 was € 215m, up +9%, in line with the consensus’ median point at € 216m. Compared to 2021, price and volumes effects were positive to the tune of, respectively, € 39m and € 23m which more than offset the increase in the price of energy (and inflation on logistics and transport costs) the impact of which was -€ 45m. Reported EBITDA was € 235m,...
Underlying
Befesa SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Anis Zgaya

Louis Boujard, CFA

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