||€ 1 049 million
|Capital expenditures (PP&E):
||€ 33 million
||€ 877 million
Economic environment in 2014
Europe saw its economic performance improve somewhat during 2014 with discrepancies across the EU member states. The political instability in Russia and Ukraine and their continued financial uncertainty have hampered a more cohesive growth trend across the EMEA region.
Automotive and construction markets, sectors which are highly relevant for Bekaert’s activities, witnessed a rebound over the course of 2014. The industrial production index improved in most countries with solid growth rates in Central Europe in particular.
Bekaert has a presence in both the mature Western European markets as well as in the Central and Eastern European markets. The company offers a quality portfolio of advanced steel wire products for sectors that are constantly searching for stronger, safer and lighter materials. As a result, opportunities for innovation-oriented technologies continue to exist.
Demand from European markets was quite strong for Bekaert in 2014. This applied to most sectors but was particularly apparent in the automotive sector, the energy-related markets and other industrial sectors. This led to robust volume growth for tire cord, flat and shaped specialty wires, advanced cords and industrial steel wires. Also, Bekaert’s building products platform solidly delivered thanks to an innovation-driven product mix.