on Befesa S.A.
Befesa Narrows 2026 EBITDA Guidance, Secures US Grant
Befesa S.A. has adjusted its full-year 2026 EBITDA guidance to a range of €260m–€270m, excluding a US grant, up from the previous €250m–€270m. This revision follows their eligibility for a €26m Critical Minerals US grant, potentially raising total 2026 EBITDA to €286m–€296m by year-end.
The third quarter of 2026 reported a 10% increase in adjusted EBITDA to €68m compared to Q3 2025. Similarly, the first nine months of 2026 saw a 10% rise to €192m. Improved zinc prices and a recovering aluminium sector drove these results.
With net leverage reduced to x2.16 and a credit rating upgrade to BB+, Befesa continues to show financial resilience. The company’s critical US expansion underlines its growth strategy in key markets.
R. P.
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