Befesa Reports 9M Results, Narrows Full-Year Adjusted EBITDA Guidance
Befesa reported year-on-year increases of 12% in operating cash flow and earnings per share for the first nine months of 2026. It narrowed full-year adjusted EBITDA guidance to €260m–€270m, or €286m–€296m including a confirmed €26m Section 45X grant. The Bernburg expansion is complete and ramp-up is underway in Q4.
Befesa reported a 12% year-on-year increase in operating cash flow and earnings per share for the first nine months of 2026. The company narrowed its full-year adjusted EBITDA guidance to a range of €260m—€270m, which increases to €286m—€296m when accounting for a newly confirmed €26m Critical Minerals US grant under Section 45X of the Inflation Reduction Act. Additionally, the company confirmed the completion of its Bernburg expansion in Germany, with ramp-up activities currently underway in the fourth quarter. S&P also recently upgraded the company's credit rating to BB+, citing strong operating performance and sustained deleveraging.