Befesa Raises 2026 Adjusted EBITDA Guidance
Befesa raised its 2026 adjusted EBITDA guidance, citing an anticipated US Inflation Reduction Act tax credit tied to its zinc production. Excluding the credit, its operating result forecast is higher at the low end than the previous forecast. The company also expects recurring annual tax credits through 2033, provided the current regulatory framework remains unchanged.
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Befesa announced an upward revision to its 2026 adjusted EBITDA guidance, now projecting a range of 286 million to 296 million euros. This increase is driven by an anticipated 29 million USD (approximately 26 million euros) tax credit from the US Inflation Reduction Act, which benefits the company's zinc production. Excluding this credit, the company expects an operating result between 260 million and 270 million euros, compared to its previous forecast of 250 million to 270 million euros. Furthermore, Befesa expects to receive recurring annual tax credits between 25 million and 30 million euros through 2033, provided the current regulatory framework remains unchanged.