Bekaert : 2022 EBITu margin target of 9% at risk?
>2022 EBITu margin of 9% may be difficult to achieve - We have lowered our 2022-2024 estimates for EBITu by 8-12% and now assume that the lower part of the targeted EBITu margin of 9-11% is out of reach for 2022. As a result, we have also lowered our TP to €30 per share. The key reasons for this assumption are that that the Chinese market in RR may not improve in 2H22 and because competitors in RR and SWS, now that supply chains have eased and freight rates have come ...Bekaert is a global technological and market company engaged in advanced solutions based in steel wire transformation and coatings as well as an independent manufacturer of drawn steel wire products. In addition, Co. teams up with customers and suppliers globally to develop, implement, upgrade, and protect both current and future technologies. Co.'s business activities are put in practice along two main axes: Product Innovation and Process Innovation. Product Innovation helps Co. better serve its customers, while Process innovation enables Co. to increase operational effectiveness, minimizing its impact on the environment.
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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