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Befesa S.A. (DE:BFSA)
XETRA:BFSA
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.38Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive operational and financial picture: EBITDA growth (+14%), margin expansion, record operating cash flow (+10%), successful deleveraging (net debt down 11%, leverage 2.27x) and strong commodity hedging/visibility. Key growth projects (Palmerton completed, Bernburg underway) and a disciplined CapEx and dividend approach support the constructive outlook. Headwinds remain in the aluminium segments, China utilization and inflationary/energy costs, but management expects recovery in secondary aluminium and higher treatment charges in 2026. On balance, the positive achievements and financial improvements outweigh the localized challenges.Company Guidance
Strong overall profitability and margin expansion
Adjusted EBITDA for FY2025 was €243 million, up 14% year‑on‑year, with EBITDA margin improving to 21% from 17% in FY2024, reflecting operational efficiency and disciplined cost management.
Steel dust business performance
Steel dust EBITDA reached €212 million in 2025, up 25% year‑on‑year, with the segment margin improving from 21% to 27%. Key drivers included higher zinc hedge prices (avg. zinc LME +3% YoY to $2,867/t), significantly lower zinc treatment charges (set at $80/t in 2025 vs $165/t in 2024), and cost reductions in the U.S. zinc smelter.
Record operating cash flow and improved cash conversion
Operating cash flow was a record €212 million in 2025 (up 10% YoY). Working capital consumption was limited (€10 million) and final cash flow was €40 million. Cash on hand was €143 million plus a €100 million undrawn RCF, providing >€240 million liquidity.
Deleveraging and balance sheet strength
Net debt fell 11% to €552 million (from €619 million), net leverage improved to 2.27x at year‑end 2025 (from 2.9x at Dec‑2024) and management targets ~2.0x by year‑end 2026, supporting financial flexibility.
Hedging program and commodity visibility
Hedge book extended through H1 2028 with hedges up to $3,100/t (2027 hedge at $3,000/t). Average hedge prices were $2,923 in 2025 and c. $2,990 for 2026, providing price visibility and downside protection.
Strategic project milestones: Palmerton and Bernburg
Palmerton expansion completed with second kiln commissioned in July 2025; US plants capacity positioned to capture expected EAF growth. Bernburg expansion permits obtained and construction started Aug‑2025 (12 months construction + 6 month ramp-up), on track commercially.
Capital discipline and shareholder returns
Total CapEx in 2025 was €76 million (below initial guidance of €80–90m). Management committed to maintenance CapEx ~€45m–€50m p.a. and proposes a higher dividend for 2026 (€40 million, +37% vs 2025 dividend), maintaining a 40–50% payout policy.
DE:BFSA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:BFSA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | €32.70 | €31.62 | -3.30% |
Oct 30, 2025 | €29.38 | €29.20 | -0.61% |
Jul 30, 2025 | €25.94 | €26.96 | +3.93% |
Apr 30, 2025 | €24.59 | €26.05 | +5.95% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Befesa S.A. (DE:BFSA) report earnings?
Befesa S.A. (DE:BFSA) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Befesa S.A. (DE:BFSA) earnings time?
Befesa S.A. (DE:BFSA) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Befesa S.A. stock?
The P/E ratio of Befesa S.A. is N/A.
What is DE:BFSA EPS forecast?
DE:BFSA EPS forecast for the fiscal quarter 2026 (Q1) is 0.38.