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Bekaert

  BEKB BB

Wire & Cable Products, Advanced Mat...
 /  Belgium 
Margins take off as Asia-Pacific market traction accelerates
Updates
06/08/2010EPS change
30/07/2010Earnings/sales releasesBekaert reported strong growth in its 2...
12/05/2010Earnings/sales releasesDouble-digit growth in Q1 10. Bekaert ...
02/03/2010Earnings/sales releasesBekaert reported FY2009 strong result...
13/11/2009Earnings/sales releasesBekaert reported a slight improvement...
31/07/2009LatestBekaert reported H109 results on trac...
13/05/2009LatestBekaert reports Q1 09 trading update, ...
13/03/2009LatestBekaert reports solid FY08 results wit...
25/02/2009LatestBekaert announced it achieved consol...
Summary Key Data
  12/08A
12/09A
12/10E
12/11E
12/12E
AlphaValue P/E (x) 10.1 9.53
Dividend yield (%) 2.38 3.05
EV/EBITDA (x) 4.91 3.94
AlphaValue EPS (€) 8.77 7.61
Dividend (€) 2.10 2.21
Sales (€M) 2,662 2,437
EBITDA (€M) 460 411
Attributable net profit (€M) 174 152
ROE (after tax) (%) 15.6 12.6
ROCE (%) 12.9 11.4
Gearing (%) 52.6 44.6
Next Div. Indic € 4.00 payment
Target
Price (€) 168
Market Cap (€M) 3,317
Perf. 1W: -0.56 %
Perf. 1M: -1.62 %
Perf. 3M: 24.4 %
Perf Ytd: 54.4 %
Rating
  • Strong momentum corresponding to a continuous and overall positive moving average trend confirmed by volumes
  • Relatively good momentum corresponding to a positively-oriented moving average, but offset by an overbought pattern or lack of confirmation from volumes
  • Relatively unfavorable momentum with a neutral or negative moving average trend, but offset by an oversold pattern or lack of confirmation from volumes
  • Strongly negative momentum corresponding to a continuous and overall negative moving average trend confirmed by volumes
VALUE
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Businesses & Trends
Bekaert operates in two core competences: Advanced wire products (application in radial tyres, concrete reinforcement, textiles, o... Read More
Money Making
Profits originate almost entirely from the Advanced wires segment, with impending volume declines in Europe/US only partly offset ... Read More
Valuation
The company currently trades at a premium to the industry and in line with our DCF target. Our DCF for out years factor in 4% topli... Read More
Analyst: Lionel Pellicer
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