PRESS RELEASE : Befesa S.A.: Befesa to distribute additional ?10m dividend

 
 DGAP-News: Befesa S.A. / Key word(s): Dividend/Forecast 
Befesa S.A.: Befesa to distribute additional &euro10m dividend 
 
2020-11-25 / 15:11 
The issuer is solely responsible for the content of this announcement. 
 
*/* 
 
*PRESS AND INVESTOR ANNOUNCEMENT* 
 
Additional dividend distribution 
 
*Befesa to distribute additional &euro10m dividend* 
 
*- *Total dividend distribution in 2020 represents 30% of FY 2019 profit or 
&euro25m / &euro0.73 per share 
 
- Quarter-on-quarter recovery continues 
 
- Hedge book extended to January 2023, providing increased earnings and cash 
flow visibility 
 
- China expansion progressing as planned 
 
_Luxembourg, 25 November 2020 - _Befesa S.A. _("Befesa"), _the European 
market leader for steel dust and aluminium salt slags recycling services, 
has decided to distribute an additional dividend of &euro10m or &euro0.29 
per share, respectively, to its shareholders. As announced in April, the 
Board of Befesa reviewed this option on the basis of 9M 2020 results. 
Together with the dividend distribution of &euro15m (&euro0.44 per share) in 
July, Befesa will have distributed a total dividend of &euro25m (&euro0.73 
per share) in 2020, equal to 30% of FY 2019 profit of &euro82.7m. The 
ex-date for the dividend will be 30 November 2020, the record date is 1 
December 2020 and the payment date 4 December 2020. 
 
Befesa's quarter-on-quarter (QoQ) recovery remains on track, Q4 results are 
expected to be higher than those in Q3 and the company just recently 
confirmed the mid-point of its FY 2020 EBITDA guidance range of &euro100 to 
&euro135m. 
 
The company also successfully extended its hedge book covering the coming 
two years, 2021 and 2022, until January 2023, at the usual 60-75% zinc 
equivalent tonnage and at solid prices of around &euro2,200 per tonne, 
providing further earnings and cash flow visibility. 
 
Befesa's expansion projects in China continue to progress on schedule, with 
the construction of the first two state-of-the-art EAF steel dust recycling 
plants expected to be completed during the first quarter of 2021 and after 
the summer of 2021, respectively. 
 
_Javier Molina, CEO of Befesa, said: _"Following our efforts to balance both 
dividend stability and cash flow over the past months, we are delighted that 
we will be able to pay our shareholders a second dividend, bringing the 
dividend distribution in 2020 to a total of &euro25m, equal to 30% of last 
year's net profit. Our strong balance sheet, high liquidity, and resilient 
business model have shown that we are well equipped to continue delivering 
solid operational performance even as COVID-19 keeps disrupting the global 
economy. 2021 will be an important year for Befesa as we expect to continue 
our QoQ recovery and achieve key milestones in our expansion initiatives in 
China, which will set the foundation for accelerated volume and earnings 
growth in the coming years." 
 
Befesa will present its preliminary FY 2020 results on February 23, 2021. 
The financial calendar is available in the Investor Relations / Investor's 
Agenda section on Befesa's website. For more information, please visit 
www.befesa.com [1] 
 
*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, 
South Korea and China. Through its two business units, Steel Dust and 
Aluminium Salt Slags recycling services, Befesa manages and recycles around 
1.5 million tonnes of residues annually, with a production of around 1.2 
million tonnes 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 [1] 
 
*Investor Relations* 
Rafael Pérez 
Email: [e-mail] 
Phone: [phone] 
 
*Media Relations* 
Maximilian Karpf 
Email: [e-mail] 
Phone: [phone] 
 
2020-11-25 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:      [e-mail] 
Internet:    www.befesa.com 
ISIN:        LU1704650164 
WKN:         A2H5Z1 
Indices:     SDAX 
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated 
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, 
             Munich, Stuttgart, Tradegate Exchange; London 
EQS News ID: 1150605 
 
End of News DGAP News Service 
 
1150605 2020-11-25 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=05e67733dc2f22a826252ffeea97a447&application_id=1150605&site_id=vwd&application_name=news

(END) Dow Jones Newswires

November 25, 2020 09:11 ET (14:11 GMT)