LUXEMBOURG (dpa-AFX) - Luxembourg-based environmental recycling business Befesa S.A. (BFSA) on Thursday announced higher revenues and lower profits for the third quarter of 2024. Adjusted EBITDA also recorded a jump.
Net profit for the period stood at 5 million euros or 0.12 euro per share as compared with 7.3 million euros or 0.18 euro per share in the year-ago period.
Adjusted EBITDA increased 15.9 percent to 48.7 million euros from 42 million euros in the comparative period of the previous year.
Revenue increased 1.7 percent to 293.7 million euros from 288.7 million euros in the third quarter of the prior year.
Based on the performance in the third quarter and coupled with a positive outlook for the fourth quarter, the company expects its full year adjusted EBITDA to be between 210 and 215 million euros, which is within the previous range of 205 to 235 million euros.
Befesa is also optimistic about its prospects for 2025, anticipating strong double-digit EBITDA growth.
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