
Combined sales: |
€ 1 028 million |
Capital expenditures (PP&E): |
€ 26 million |
Total assets: |
€ 716 million
|
Employees: |
5 800 |
In the EMEA region, Bekaert has a presence in both the mature Western European markets as well as in Central and Eastern Europe. After a relatively weak start of the year, the demand in Europe gradually improved in the sectors which are relevant to Bekaert’s main business activities in the region.
Automotive markets: on the road to recovery?
The automotive industry is a large user of Bekaert’s steel wires, both in the original equipment and the replacement markets.
Automotive markets picked up moderately starting from the second quarter of 2013. While seeing the market bottom out is certainly positive, any comparison with 2012 is one with a year with low demand.
On the positive side, the entire sector is constantly searching for better, safer and lighter materials. As a result, opportunities for innovation-oriented technologies continue to exist.
After a difficult first quarter, Bekaert posted solid sales in EMEA as a result of improved demand for tire cord and wiper blades, both of which have an OEM and a significant aftermarket.
Energy markets fuel performance
Energy-related sectors started to contract at the beginning of 2013 as a result of delayed projects and investments in both the oil and gas sector and the electric power grid infrastructure. Demand picked up in the second half. Bekaert’s cable armoring wires, flat and shaped wires, and anchorage rope wires, were sold in stable volumes compared to 2012, amidst an increasingly competitive environment.
Building the foundations for further growth
Construction markets remained difficult in Europe in the first half-year due to stagnant housing markets and delayed public infrastructure projects in most countries. The situation improved in the second half of 2013 but there are no signs yet of a global recovery to pre-recession activity levels.
Bekaert withstood the ongoing difficult market circumstances by offering product innovations and optimal service in the many infrastructure and construction segments it serves. Demand for Bekaert’s Dramix® steel fibers for concrete reinforcement remained solid. Sales of prestressed concrete strand picked up in the second half of the year and a number of new applications were added to the portfolio.
Stainless results
Bekaert’s European activities in stainless technologies performed well in 2013, with a solid demand for fiber products, filtration media, and combustion and drying installations and components. Additionally, the stainless steel wire platform performed well with, among others, the medical applications such as Nitinol dental wire, lancet and surgical needle wire.