Credit Relations
The latest consolidated financial statements, our financial strategy, an overview of financial figures.
Financial Strategy
The financial strategy is a key component of the BENTELER Group's strategic orientation.
Capital Structure
Capital Structure
BENTELER has established a future-proof capital structure, consisting of bank facilities and capital market transactions to diversify its funding base.
The company is targeting to reduce leverage and gross debt, with the aim of achieving a cross-over profile in the mid-term and an investment grade level in the long term.
The specific targets are:
- Net financial leverage of 1.5x through the cycle
- Book equity ratio greater than 25% in the next years
- Consistently positive free cash flow generation in all divisions
Financial &
Liquidity Profile
Financial &
Liquidity Profile
- BENTELER has a strict financial policy that ensures and promotes stability.
- The company maintains a continuous focus on tight cost management and profitability optimization.
- In line with past practices, BENTELER is focused on maintaining a strong liquidity position.
Overview of Key Financial Ratios
Key Financial Ratios | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Sales (bn €) | 8.8 | 9.0 | 7.3 | 6.4 | 7.7 | 7.5 |
| EBITDA (mn €) | 782 | 703 | 332 | 160 | 238 | 376 |
| Free Cash Flow (mn €) | 509 | 86 | -83 | -93 | 137 | -36 |
| Net Leverage (rep.) | 1.7 | 2.2 | 4.5 | 8.9 | 5.5 | 3.1 |
| Equity Ratio (%) | 11.3 | 10.8 | -2.2 | -1.2 | 10.5 | 21.5 |
Annual Reports
BENTELER prepares its consolidated financial statements on the basis of, and in accordance with, International Financial Reporting Standards (IFRS).
