S&P lifts Befesa to BB+: Befesa stock sits 8.01 percent below its high

Published on 10/09/2026 at 13:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA rose 11.00 percent to EUR 124.00 million in the first half of 2026. Befesa stock costs EUR 35.05 on October 9, 2026 after EUR 34.73.

Key points in brief

S&P Global Ratings upgraded Befesa from BB to BB+ with a stable outlook on September 29, 2026.
Adjusted EBITDA reached EUR 124.00 million in the first half of 2026, up 11.00 percent year over year.
Befesa stock was at EUR 35.05 at Lang & Schwarz on October 9, 2026, 8.01 percent below its 52-week high.

Extreme Makroaufnahme von Zink-Spangles-Kristallmuster auf galvanisierter Metalloberfläche — Befesa S.A. produziert Zink, dessen typische Spangles-Kristallstruktur unter dem Makroobjektiv sichtbar wird, LU1704650164, Illustration mit AI erstellt.

S&P Global Ratings upgraded Befesa from BB to BB+ on September 29, 2026, while Befesa stock was at EUR 35.05 at Lang & Schwarz on October 9, 2026. The price stood 8.01 percent below the 52-week high of EUR 38.10, making the credit upgrade the key fundamental signal behind the current valuation.

Credit quality improves

According to EQS News on September 29, 2026, S&P lifted Befesa's long-term issuer rating from BB to BB+ with a stable outlook. The same upgrade covered Befesa's EUR 650.00 million term loan and EUR 100.00 million revolving credit facility.

S&P Global Ratings projects adjusted EBITDA of EUR 265.00 million in fiscal year 2026, compared with EUR 237.00 million in fiscal year 2025. That 11.81 percent increase is tied to higher steel dust volumes, zinc prices and the ramp-up of growth projects.

Profit growth meets lower leverage

In the first half of 2026, adjusted EBITDA rose 11.00 percent to EUR 124.00 million, while revenue declined 2.00 percent, according to Aktiencheck on October 5, 2026. In the second quarter of 2026, adjusted EBITDA increased 17.00 percent and the margin reached 21.70 percent.

The balance-sheet trend is equally important. Net leverage fell to 2.20 times adjusted EBITDA from 2.70 times one year earlier, while Befesa's full-year 2026 adjusted EBITDA outlook remained EUR 250.00 million to EUR 270.00 million.

What comes next for Befesa?

The next scheduled company event is the third-quarter 2026 statement and conference call on October 29, 2026, listed by EQS News. Investors will have a concrete test of whether the second-quarter improvement can continue into the next reporting period.

Three milestones shape the story

On April 30, 2026, Befesa reported first-quarter adjusted EBITDA of EUR 58.00 million, up 4.00 percent year over year. On July 29, 2026, second-quarter adjusted EBITDA reached EUR 66.00 million, up 17.00 percent. On September 29, 2026, S&P upgraded the issuer rating from BB to BB+, placing the credit milestone last in the chronology.

Stock stays below its yearly high

Befesa was trading at EUR 35.05 at Lang & Schwarz on October 9, 2026 at 1:05 p.m. CEST, up 0.92 percent versus the prior close of EUR 34.73 on October 8, 2026. The primary listing is on the Frankfurt Stock Exchange, where the quoted currency is EUR.

The further course of trading is shown by the continuously updated real-time quote of Befesa stock.