Befesa Reports Strong Q2 EBITDA Growth of 22%

Befesa S.A., a leader in hazardous waste recycling for the steel and aluminium industries, announced a 22% year-over-year increase in adjusted EBITDA for Q2 2024, reaching €55 million. This marks the company's third consecutive growth quarter. Key contributors were lower treatment charges, improved zinc hedging prices, reduced coke prices, robust volumes in Europe, and solid U.S. recycling plant performance.

Total revenue for H1 2024 rose slightly by 1% to €621 million. Adjusted EBITDA for the same period increased by 9% to €103 million. Operational highlights include a 3% rise in electric arc furnace steel dust volumes and a 29% increase in recycled aluminium salt slags.

Befesa also announced the extension of zinc price hedges until Q1 2026 and the acquisition of the remaining 50% stake in the French joint venture Recytech for €40 million. This acquisition reinforces Befesa’s market leadership in Europe. Additionally, Befesa successfully extended the maturity of its existing debt to July 2029, maintaining its leverage ratio.

The company remains optimistic for the second half of the year, revising its full-year EBITDA guidance to a range of €205 million to €235 million, representing a 13% to 29% increase year-over-year.