Bel20 cannot follow the European peloton

Beckert

It continues its rebound after strong annual figures, taking a 4 per cent gain to € 34.56. ABN AMRO Oddo BHF has placed the steel technology group on the buy list in an update, with a target price of 43 euros.

“The current administration is restructuring all of Bakart’s divisions,” wrote analyst Martin Dunn Driver. It also indicates “new dynamics in the conference room.” ‘President (Suwaidi Jürgen Tinggren, Red.He has a background in consulting and a proven track record of restructuring at Schindler, reducing sales volume by 22% but operating profit growing by 56%.


There is a new dynamic in Bekaert conference room, with an even greater emphasis on profit margin

Martijn den Drijver

ABN AMRO Oddo BHF-analist

Den Driver suspects that on Investor’s Day, which was initially announced for the week but has been postponed to May, additional restructuring will be announced. There is still a lot of work to do to focus on both the Steel Wire Solutions subsidiary and the Bekaert-Bridon Ropes Group. Both are currently putting on brakes on profit margins. ‘

The analyst calculates that if all the underperforming divisions leave the house, it will likely result in 440 million euros, or 5 euros a share. This will likely leave room for additional dividends or share buybacks, while the remaining companies will have a profit margin of close to 9 percent.

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