Bekaert’s H1 net income drops 37.5% y/y to EUR54.3 million

Consolidated sales grow about 3% y/y to EUR2.1 billion

Bekaert has reported 37.5% year-over-year (y/y) decline in net income to EUR54.3 million (USD63.2 million as on 30 June 2018) for the first half ended 30 June 2018, the company said in a press release on 27 July. The company reported 2.9% y/y growth in consolidated sales to EUR2.1 billion. Bekaert’s combined sales, which includes consolidated sales plus 100% sales of joint-ventures and associates after intercompany elimination, increased 4.7% y/y to EUR2.5 billion. Despite higher sales, the company recorded 48.6% y/y fall in operating income to EUR100.9 million.