EQS-News: Befesa extends the maturity of its debt to 2029
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EQS-News: Befesa S.A.
/ Key word(s): Financing/Banking Syndicate
Befesa extends the maturity of its debt to 2029
Luxembourg, 18 July 2024 – Befesa S.A. (“Befesa”), the leading provider of hazardous waste recycling services enabling the circular economy within the steel and aluminium industries, successfully completed the refinancing of its existing debt consisting of a €650 million senior secured Term Loan B with a 3-year extension due July 2029, a €100 million revolving credit facility due July 2028, and a €35 million guarantee facility due July 2028. The refinancing extends the maturity of Befesa's debt with no effect on its current leverage ratio. The new financing has the same covenant-lite terms as the previous debt. The Term Loan B has a new margin of Euribor +275 bps and includes a margin ratchet which allows for up to a further 50bps margin reduction if leverage ratio gets below x2.5. Credit rating agencies have reconfirmed the ratings of Befesa at Ba2 (Stable) with Moody’s and BB (Stable) with S&P. Rafael Pérez, CFO of Befesa, said: “We are very pleased with the successful outcome of this refinancing transaction. The reception and appetite to participate by existing and new lenders were very strong. We are looking forward to delivering on our strategic goals from a position of financial strength, which this refinancing put us in.” Citi and J.P. Morgan acted as joint physical bookrunners, and BBVA, BNP, Commerzbank and CaixaBank as other bookrunners. About Befesa Befesa is a leading player in the circular economy, providing environmental, regulated services to the steel and aluminium industries with facilities located in Germany, Spain, Sweden, France, as well as in Turkey, South Korea, China and the US. Through its two business units, Steel Dust and Aluminium Salt Slags recycling services, which are a critical part of the circular economy, Befesa manages and recycles around 1.9 million tonnes of residues annually, with a production of around 1.7 million tonnes of new materials, which Befesa reintroduces in the market, reducing the consumption of natural resources. Further information is available on the Company’s website: www.befesa.com Investor Relations Email: irbefesa@befesa.com Phone: +49 2102 1001 0 Media Relations Richard Rigby Email: richard.rigby@kekstcnc.com Phone: +44 7970 767607
18.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Befesa S.A. |
| 68-70, Boulevard de la Pétrusse | |
| 2320 Luxembourg | |
| Luxemburg | |
| E-mail: | irbefesa@befesa.com |
| Internet: | www.befesa.com |
| ISIN: | LU1704650164 |
| WKN: | A2H5Z1 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London |
| EQS News ID: | 1949507 |
| End of News | EQS News Service |
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1949507 18.07.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | ||
| Sales1 | 647,94 | 604,33 | 821,61 | 1.136,03 | 1.180,60 | 0,00 | 0,00 | |
| EBITDA1,2 | 159,56 | 123,49 | 189,61 | 234,90 | 188,81 | 215,00 | 0,00 | |
| EBITDA-Margin3 | 24,63 | 20,43 | 23,08 | 20,68 | 15,99 | 0,00 | 0,00 | |
| EBIT1,4 | 123,98 | 67,92 | 127,46 | 164,76 | 106,64 | 0,00 | 0,00 | |
| EBIT-Margin5 | 19,13 | 11,24 | 15,51 | 14,50 | 9,03 | 0,00 | 0,00 | |
| Net Profit (Loss)1 | 87,90 | 46,89 | 102,35 | 106,50 | 57,57 | 0,00 | 0,00 | |
| Net-Margin6 | 13,57 | 7,76 | 12,46 | 9,38 | 4,88 | 0,00 | 0,00 | |
| Cashflow1,7 | 102,52 | 92,54 | 117,90 | 137,33 | 117,32 | 0,00 | 0,00 | |
| Earnings per share8 | 2,43 | 1,40 | 2,68 | 2,66 | 1,45 | 1,70 | 2,30 | |
| Dividend per share8 | 0,73 | 1,17 | 1,25 | 1,25 | 0,73 | 0,90 | 1,10 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: KPMG
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Befesa | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A2H5Z1 | LU1704650164 | SA | 781,20 Mio € | 03.11.2017 | Kaufen | 9F387VW8+3M |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 7,97 | 21,43 | 0,37 | 14,29 | 0,98 | 6,66 | 0,66 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 1,25 | 0,73 | 0,90 | 4,61% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 19.06.2025 | 30.04.2025 | 30.07.2025 | 31.10.2024 | 30.04.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -8,81% | -28,27% | -5,65% | -41,07% | -30,25% |
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