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  2. •

    Industrials

  3. •

    Waste Management
Befesa S.A.

Befesa S.A.

BFSAF
Befesa S.A.US flagOther OTC
40.00
USD
- -
- -
2.06BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
9.13
19.12
19.41
28.77
28.96
21.14
19.02
17.74
22.04
28.4
29.52
30.98
29.57
30.34
Basic EPS, GAAP
-0.27
0.54
-2.45
-5.82
1.02
2.65
2.43
1.4
2.68
2.66
1.45
1.27
2.01
1.76
Free Cash Flow per Basic Share
-0.66
0.27
0.13
1.11
2.63
1.86
0.66
1.11
1.08
0.77
1.07
2.83
3.39
2.72
Dividend per Share
- -
- -
0.11
- -
0.12
0.86
1.32
0.73
1.26
1.25
1.25
0.73
0.64
0.73
Book Value per Share
1.35
2.16
0.58
0.53
5.75
5.42
5.2
4.17
5.65
5.43
4.23
4.05
4.79
3.76
Tangible Book Value per Share
-5.85
-5.93
-5.66
-12.79
-9.75
-2.35
-1.83
-2.8
-1.23
3.13
3.49
2.28
2.42
3.08
Basic Weighted Avg Shares
34
34
34
21
25
34
34
34
37
40
40
40
40
40
Sales/Revenue/Turnover
311
651
661
612
725
720
648
604
822
1,136
1,181
1,239
1,183
1,219
Operating Margin (%)
8.87
16
15.01
15.73
17.05
20.28
19.36
14.24
16.6
10.14
7.42
9.78
13.29
11.23
Depreciation Expense
19
36
42
41
31
29
34
37
53
68
81
83
82
80
Net Income, GAAP
-9
18
-35
-53
49
90
83
48
100
106
58
51
81
71
Effective Tax Rate (%)
- -
35.9
- -
39.84
31.02
25.39
15.39
20.04
8.49
18.29
15.43
27.74
28.64
26.04
Profit Margin (%)
-2.94
2.82
-5.35
-8.65
6.8
12.52
12.77
7.88
12.14
9.35
4.91
4.1
6.81
5.81
Working Capital
35
52
-28
29
20
156
139
124
118
88
85
31
83
90
LT Debt
637
640
531
553
519
520
530
531
669
677
673
685
663
661
Total Equity
241
248
259
158
180
343
360
328
632
819
877
846
818
845
Return on Invested Capital (%)
- -
7.23
- -
7.11
11.66
13.67
11.82
7.65
11.22
6.53
4.72
5.5
7.19
6.52
Return on Capital (%)
- -
7.06
- -
-4.1
11.64
14.03
12.48
8.44
13.77
13.42
9.45
8.33
11.32
11.19
Return on Common Equity (%)
- -
30.77
-179.55
-801.52
33.02
54.89
45.69
29.8
56.52
49.63
30.01
30.72
45.56
50.22

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
37
36
36
LT Borrowings
664
662
644
LT Finance Leases
20
20
18
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
40
40
40
Market Capitalization
1,498
1,437
864

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
331
358
370
Cash, Cash Equivalents & STI
103
113
96
Accounts Receivable, Net
99
110
94
Inventories
100
101
101
Total Current Liabilities
300
279
280
Payables & Accruals
- -
- -
- -
ST Debt
37
36
36
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.41%
24.55%
-3.24%
Free Cash Flow
82.52%
41.49%
19.89%
Net Income, GAAP
0.55%
23.33%
58.41%
Sales/Revenue/Turnover
7.22%
15.71%
-4.55%
Total Cash Common Dividend
- -
- -
-12.33%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
298
323
294
324
1,239
2025
308
293
291
- -
1,183
2026
285
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.24
0.26
0.12
- -
1.27
2025
0.47
0.54
- -
- -
2.01
2026
0.52
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.71
- -
0.73
2025
- -
- -
- -
- -
0.64
2026
0.03
- -
- -
- -
- -

Company Description

APIChat
CEO
Asier Zarraonandia Ayo
Full Time Employees
1,835
Sector
Industrials
Industry
Waste Management
Address
68-70 Boulevard de la Pétrusse Luxembourg City Luxembourg 2320
IPO Date
Jan 7, 2022
Website
befesa.com
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Business
Befesa S.A. provides specialized environmental recycling services to the steel and aluminium industries, focusing on the collection, treatment, and recycling of hazardous residues such as steel dust, salt slags, and spent pot linings. The company operates through two primary segments: Steel Dust Recycling Services, which collects and recycles crude steel dust and other residues generated in the production of crude, stainless, and galvanized steel using electric arc furnaces, producing waelz oxide for sale to zinc smelters; and Aluminium Salt Slags Recycling Services, which recycles salt slags from secondary aluminium producers, treats spent pot linings from primary producers, recovers and sells salt, aluminium concentrate, and aluminium oxides, and manufactures secondary aluminium alloys from scrap, dross, shavings, cuttings, and other residues for the automotive, construction, and appliance sectors; it also offers logistics, waste treatment, and technology development services. Befesa S.A., founded in 1987 and headquartered in Luxembourg City, Luxembourg, maintains recycling plants across Europe, Asia, and North America, serving secondary steel and aluminium producers in regulated markets driven by environmental legislation and circular economy trends. In June 2024, Befesa acquired full ownership of its French joint venture Recytech S.A. from Recylex S.A. for €40 million, enhancing its steel dust recycling capacity in Europe as part of its sustainable global growth plan; the company extended its debt maturity to 2029 in July 2024 and anticipates double-digit EBITDA growth in 2025 supported by organic expansion and new market replication.

Company News

APIChat

  • seekingalpha.com

    Befesa S.A. (BFSAF) Q4 2025 Earnings Call Transcript

  • defenseworld.net

    Befesa (OTC:BFSAF) Shares Down 11.2% – Time to Sell?

  • seekingalpha.com

    Befesa S.A. (BFSAF) Q3 2025 Earnings Call Transcript

  • seekingalpha.com

    Befesa: Double-Digit EBITDA Growth In 2025, But Share Price Continues To Slide

  • seekingalpha.com

    Befesa: Anticipate High Single-Digit EBITDA Growth In 2023