In the first quarter of 2005, Bekaert generated consolidated and combined sales of € 462 million (+18%) and € 733 million (+20%), respectively[1] [2] [3].
The consolidated sales' increase was 2% from the net movement in acquisitions and divestments and 18% from organic growth, while adverse currency movements amounted to 2%.
Consolidated and combined sales by business segment
|
First quarter 2005 |
Consolidated sales |
Combined sales | ||
|
|
in millions of € |
variance2 |
in millions of € |
variance2 |
|
Advanced wire products |
400 |
+18.6% |
655 |
+21.6% |
|
Advanced materials |
32 |
+26.4% |
32 |
+26.4% |
|
Advanced coatings |
30 |
- 2.5% |
30 |
- 2.5% |
|
Intersegment sales and others |
0 |
_ |
16 |
_ |
|
Total |
462 |
+17.7% |
733 |
+20.1% |
Bekaert performed strongly in advanced wire products. Sales prices are considerably higher compared to the first quarter of last year, due to the sharp rise in raw materials' prices which marked 2004. Sales were negatively affected by currency movements.
Combined sales grew most rapidly in Latin America and Asia, whilst the markets in North America came under increased pressure. In Europe, Bekaert is experiencing increasing competition from the 'dollar countries' as a result of the strong position of the euro in relation to the dollar. Sales of building products remained at the same level as in the exceptionally strong first quarter of 2004. Sales of steel cord China showed an increase compared to the strong first quarter of 2004. The measures the Chinese authorities took to combat vehicle overloading, as reported previously, only began to have a negative influence on sales from the second quarter of last year. In the other regions, Bekaert achieved a strong growth in sales of steel cord products, backed up in part by supplies from its worldwide production platform. The third steel cord plant in China was officially inaugurated in April.
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