LUXEMBOURG (dpa-AFX) - Industrial recycler Befesa is being hit surprisingly hard by high expenses for zinc smelting and coking coal. Due to the high costs, operating earnings before interest, taxes, depreciation and amortization (Ebitda) should be between 200 and 230 million euros in the current year, the MDax-listed company announced in Luxembourg on Thursday. This would mean that earnings would be around seven percent lower to seven percent higher than in the previous year, if a positive special effect from the acquisition of a zinc refinery in the USA is excluded. Analysts surveyed by the Bloomberg news agency had previously expected an average of 236 million euros for 2023.

In the first quarter, Befesa increased its sales by 23 percent year-on-year to 322 million euros thanks to the acquisition in the USA. However, operating profit - adjusted for the special effect - fell by 18 percent to just over 50 million euros. Net profit even slumped by 44 percent to a good 15 million euros./stw/stk