Bekaert jumped 9% in Brussels, after the industrial group reported EPS from continuing operations up 5.5% to 4.75 euros for 2023, and proposed a dividend up 9% to 1.80 per share.

It explained that it had further improved its profit margins and generated solid cash flow despite overall sales down 13.9% to 5.3 billion euros, due in particular to the reversal of raw material cost inflation.

Although economic uncertainties persist and a number of end markets remain difficult', management expects modest sales growth and at least stable margins in 2024.

Copyright (c) 2024 CercleFinance.com. All rights reserved.