Bekaert: Third Quarter Trading Update 2009

Date: 17 November 2009
Source: Bekaert

Date: 17 November 2009

Bekaert's third quarter business performance improved in comparison with the previous quarter. The sales increase was driven by volume growth, while the effect of fluctuations in raw material prices and currency became insignificant quarter-to-quarter.-Sales volumes have steadily improved during 2009:Increased market demand, mainly in Asia Pacific, drove Bekaert's third quarter sales volumes higher than in the same period of the prior year.

Bekaert expects to maintain high sales volumes in the fourth quarter of this year, driven by solid market demand in emerging markets.
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Raw material prices seem to have bottomed out:
After a long period of steep decline, raw material prices have stabilized at 40% below the 2008 third quarter level. Obviously, the substantially lower raw material prices year-on-year do have a corresponding impact on Bekaert's sales throughout the second half of the year.
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Stronger euro reduces favorable currency movements:
The positive effect of currency movements was neutralized in the third quarter due to the stronger euro. This currency trend is expected to produce a negative impact on sales during the fourth quarter of 2009.
 
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600450 Bekaert: Third Quarter Trading Update 2009 glassonweb.com

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