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MarketScreener Homepage  >  Equities  >  Xetra  >  Befesa SA    BFSA   LU1704650164

BEFESA SA

(BFSA)
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Befesa : resumes operations in Turkey following expansion - China and South Korea growth projects progressing as planned

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08/14/2019 | 05:40am EDT

DGAP-News: Befesa S.A. / Key word(s): Expansion
Befesa resumes operations in Turkey following expansion - China and South Korea growth projects progressing as planned

14.08.2019 / 11:38
The issuer is solely responsible for the content of this announcement.


PRESS AND INVESTOR ANNOUNCEMENT

Befesa resumes operations in Turkey following expansion - China and South Korea growth projects progressing as planned

- Befesa resumes its operations in Turkey having completed the expansion from 65k tonnes to 110k tonnes recycling capacity on time and within budget

- Construction of Waelz oxide washing plant in Korea is progressing according to plan with ramp up targeted for Q4 2019

- Construction of first steel dust recycling plant in China, in Jiangsu, is underway with ramp up targeted for next year, during H2 2020

Luxembourg, 14 Aug 2019 -Befesa S.A. ("Befesa"), the European market leader for steel dust and aluminium salt slags recycling services, reopened its site in Iskenderum, Turkey and resumed operations this week, having successfully completed the capacity expansion from 65k tonnes to 110k tonnes on time and within budget. Befesa started the works at the end of January.

Javier Molina, CEO of Befesa, said: "We are very pleased to be back in operations this week. With hot commissioning and ramp up, we are delivering the entire project in around seven months."

In parallel, Befesa is progressing according to schedule with the construction of its first Waelz oxide washing plant in Asia, in Pohang, South Korea. Ramp up is targeted for next quarter, Q4 2019. This will allow Befesa to offer its customers in the region with higher "washed" commercial grade Waelz oxide, similar to its European services.

The construction of Befesa's first steel dust recycling plant in China, in Changzhou (Jiangsu province), is also progressing as planned. The plant is designed for a recycling capacity of 110k tonnes of steel dust per annum and ramp up is scheduled for H2 of next year.

"We are driving progress step-by-step whilst executing our growth roadmap. I'm pleased to say Befesa is delivering despite the current volatile macro-economic environment and remaining firmly on course in executing our global expansion," Javier Molina added.

About Befesa
Befesa is a leading international provider of critical environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France and the UK, as well as in Turkey and South Korea. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, Befesa manages and recycles more than 1,500kt of residues annually, with a production of more than 600kt of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources. Further information can be found on the company's website: www.befesa.com

Investor Relations
Rafael Pérez
Email: irbefesa@befesa.com
Phone: +49 2102 1001 0

Media Relations
Maximilian Karpf
Email: maximilian.karpf@kekstcnc.com
Phone: +44 7970 716 953



14.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Befesa S.A.
46 Boulevard Grande-Duchesse Charlotte
1330 Luxembourg
Luxemburg
E-mail: irbefesa@befesa.com
Internet: www.befesa.com
ISIN: LU1704650164
WKN: A2H5Z1
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; London
EQS News ID: 857493

 
End of News DGAP News Service

857493  14.08.2019 

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© EQS 2019
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Sales 2019 672 M
EBIT 2019 134 M
Net income 2019 83,9 M
Debt 2019 386 M
Yield 2019 4,50%
P/E ratio 2019 11,4x
P/E ratio 2020 9,76x
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