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Beroa Increased Its Order Income

At the end of June 2011, the German company achieved an order income of EUR 193 million. Beroa is a German company of Spanish capital specializing in refractory material engineering and installation, and construction of chimneys and tall structures that has 42 operative branches in five continents. The firm has four specialized business areas where it has been able to achieve industry leading positions worldwide: industrial chimney construction, refractory material installation, tall structures construction and ceramic welding for industrial furnaces. According to Jorge Álvarez, CEO of Beroa, after the recent reorganization and management improvements completed in the last year, “we have begun the first six months of the year with a great boost. This is due in part to our experience in all of the markets that we are currently present in and also thanks to our ability to gain entry into new sectors like the solar updraft towers, where we have become worldwide leaders”. The growth in order income during this first six months (equivalent to 62 % of the business volume registered by Beroa in 2010) came as a result of the surge in the demand of industrial clients in Germany, Australia, the Persian Gulf and South Africa. By business area, the refractory activity equates to 57 % of the total portfolio, while the chimney construction represents 35 % of the portfolio. In 2010, the company had revenues of EUR 311 million. Beroa’s EBITDA showed an improvement of 22 %, reaching EUR 17 million. Nearly 64 % of the turnover came from the activity related to the refractory industry, while 26 % related to chimney construction. The remaining, a 10 %, is consequence of the sale of refractory material and steel structural jobs (07/2011).

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