Contact for press

You can contact us by:

Marián Ariza Communication Department.

Media Kit

Follow us on:

Keep up-to-date on the latest at the Abengoa website:

November

Befesa’s sales up 25% at the end of the third quarter compared to the same period in 2009

November 10, 2010

  • EBITDA grew by 27% to €92 million
  • Profit after tax rose by 23%
  • International markets accounted for 60% of total sales

Erandio, 10 November 2010. Befesa’s results at the end of the third quarter grew strongly compared to the same period in 2009, mainly driven by the recovery in the European industrial sector in which Befesa carries out the majority of its business.

Befesa's consolidated sales at 30 September 2010 rose by 25% to €600 million compared to €481 million the previous year.

EBITDA increased by 27% to €92 million compared to €72 million for the same period in 2009, while the EBITDA/Sales ratio was 15.3%.

Profit after tax attributable to the parent company increased by 23% to €31 million, compared to €25 million for third quarter 2009.

The evolution of the results at the end of the first nine months of 2010 is shown below.

Consolidated€ millions% var.
Sept. 2010Sept. 200910/09
Ventas599.8481.124.7
EBITDA91.571.927.3
EBITDA/Sales %15.314.92.1
PBT40.128.142. 7
PAT34.424.639.8
PAT Parent30.825.023.2

It is worth noting that at the end of September 2010, some 60% of sales came from Befesa’s activities in international markets. Sales from these markets for the same period the previous year accounted for 44%.

Performance by business unit at the end of September 2010 is as follows:

Industrial Waste Recycling

During the first nine months of 2010, Befesa treated 1.514 million tonnes of industrial waste at its plants in Spain, Germany, United Kingdom, France, Sweden and Latin America, representing a 27% increase in volume (tonnes).Sales by this activity jumped by 51% to €428 million, compared to €283 million the previous year.

It is worth noting the positive influence of the successful integration of the salt slag treatment plants acquired in 2009 in Germany.

It is important to mention that during this last quarter, Befesa has signed a joint venture agreement with Silvermet Inc. to take a 51% stake in a steel dust recycling plant that Silvermet has in Iskenderun (Turkey), with a total investment of US $10 million, and which will also include the acquisition of a 10% stake in Silvermet.Inc. addition to the plant, the transaction also includes an investment agreement to jointly develop the steel dust recycling business in Turkey, one of the largest steel producers in the world.

Water

The water segment continued to record good levels of execution and new contracts in the first nine months of 2010.Sales levels were similar to those of September 2009, while the project order book for the 2010-2012 period has also grown significantly.

Significant events during this quarter including the signing of a new commercial contract with Sri Lanka’s public water and sewerage company to design and construct the first stage of a supply project in Ratnapura, worth nearly €26 million. The project, which is designed to meet the demand for water forecast for 2025, will guarantee the supply of drinking water to this city and its suburbs, which will benefit around 100,000 people.

In addition, on 31 July the Chief Minister of Tamil Nadu, Kalingnar M. Karunanidhi, opened the facilities of the sea water desalination plant in Minjur, Chennai (India), marking the start of commercial operations. The plant, which has a capacity to desalinate 100,000 cubic metres of water per day, is the largest desalination plant using reverse osmosis in India and the first to be carried out under a DBOOT format (Design, Build, Own, Operate and Transfer) in this country.

Javier Molina, Chairman of Befesa, said “Befesa’s results at the end of the third quarter reflect the upturn in its industrial waste recycling segment and the company’s clear commitment to strengthen this business with the entry into the Turkish steel waste recycling market, which will allow us to position ourselves quickly in one of the largest steel producing countries in the world.The contract in SriLanka and the start of operations in Chennai are consolidating Befesa’s international activities”.

Befesa Medio Ambiente (BMA) is an international company that provides solutions for managing and recycling industrial waste and for water generation and management, with a strong emphasis on social responsibility to help create a sustainable world.(www.befesa.com).

Share this news


© 2019 Abengoa. All rights reserved