• New Organisation leadership
  • Befesa is working on a Sustainable Global Growth Plan (SGGP)
  • SGGP targets around double-digit growth rates for the next five years and investments of around €500mill
  • Capital Markets Day planned for this autumn to explain the final growth plan to the company’s shareholders and analysts

As chairperson of the board of directors of Befesa and executive chair, Javier Molina will be the most senior executive in the group and Befesa’s main representative for regulators, authorities, and shareholders. He will lead the implementation of Befesa’s corporate strategy, covering growth projects and the Sustainable Global Growth Plan (SGGP) as well as the sustainability strategy, including CO2 reduction plans and ESG.

As chief executive officer of Befesa, Asier Zarraonandia, who successfully developed and managed the Steel Dust Recycling Business, which represents around 80 per cent of Befesa’s EBITDA, will report to the executive chair. He will be responsible for the day-to-day management across Befesa’s business units and for all operations including production, supply chain and commercial. He will also be responsible for the execution of the various growth projects in the business. Wolf Lehmann, currently CFO of Befesa, will maintain his role and responsibilities, also reporting to the executive chair.

The renewed board of directors will lead Befesa over the next four years including the two new board members Natalia Latorre and José Dominguez Abascal. Both bring extensive experience in the energy transition, ESG and technology development, three areas with increasing importance to Befesa in the coming years. The new board continues to consist of six independent directors and three executive directors.

The board has also established a Sustainability Committee, which will strengthen Befesa’s commitment to sustainability as a key player in the circular economy and will review progress against Befesa’s sustainability plans on a quarterly basis.

Five-year Sustainable Global Growth Plan (SGGP)

The global aluminium industry is undergoing major transformation to decarbonise its operations and meet carbon reduction targets for 2030 and 2050. The trends in the aluminium industry towards decarbonisation and the rapid increase of the production of electric vehicles, are fuelling increasing demand for secondary aluminium and salt slags recycling in Europe, where Befesa plays a leading role. As a clear contributor to the decarbonisation of the aluminium industries, Befesa’s environmental services to the low-carbon Electric Arc Furnace's (EAF) steelmaking process and secondary aluminium producers will enable the transition to a low-carbon economy by expanding Befesa’s recycling capacity.

Against this backdrop, Befesa has announced that it is finalising its new five-year Sustainable Global Growth Plan. As part of this plan, Befesa aims to invest around €500m in growth projects to seize the opportunities that decarbonisation and the growing electric vehicle market are generating in the steel and aluminium industries. This will enable the company to target double-digit growth rates over the next five years.

Befesa plans to hold a Capital Markets Day this autumn to share the final SGGP with its shareholders and analysts.

Javier Molina, executive chair of Befesa, commented: “I am very excited about this new chapter for Befesa. Asier has been managing Befesa’s main business for the past 15 years very successfully and is my natural successor. Despite the current uncertainty in the global economy, we have a solid business plan based on strong fundamentals. We believe that decarbonisation and the rise of electric vehicles will remain medium and long-term growth drivers and we are in a privileged position to be able to seize these opportunities in the markets that we know best. Our new Sustainable Global Growth Plan targets around €500m in investments globally - balanced across new markets such as China and more mature markets such as Europe and North America. This will enable Befesa to continue its accelerated expansion, targeting double-digit growth over the next five years.”

The Company will provide more details on the organisational changes, the new five-year SGGP and the Capital Markets Day in the forthcoming H1/Q2 financial results presentation scheduled for 28 July 2022.


Befesa will host a webcast on its H1/Q2 2022 results at 9:00 am CEST on 28 July 2022. Further details, a replay and other events are available on the Company’s website: www.befesa.com

Financial Calendar 2022

The financial calendar for 2022 is available in the Investor Relations / Investor’s Agenda section of Befesa’s website. For more information, please visit www.befesa.com