DGAP-Adhoc: Klöckner & Co SE: Operating income considerably stronger than expected

DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Quarter Results/Preliminary Results
Klöckner & Co SE: Operating income considerably stronger than expected

07-Apr-2022 / 14:11 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The renewed supply shortage has led to a significant increase in steel prices in Klöckner & Co's core markets, Europe and the USA. Against this backdrop, supported by a determined margin-over-volume strategy and disciplined net working capital management, the company achieved a considerably stronger operating income (EBITDA) before material special effects in the first quarter of 2022 than originally expected. According to preliminary figures, EBITDA before material special effects in the first quarter of 2022 amounts to € 201 million, against the previous expectation of € 130-180 million.

In addition the company has generated positive material special effects in the first quarter, in particular from the sale of properties in Switzerland and France amounting to € 53 million.

The figures for the first quarter will be announced on May 4, 2022.
 
Information and Explanation of the Issuer to this News:

For the definitions of EBITDA and EBITDA before material special effects reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2021, p. 36 (accessible via https://www.kloeckner.com/en/investors/publications.html). 
 

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Language: English Company: Klöckner & Co SE Am Silberpalais 1 47057 Duisburg Germany Phone: +49 (0)203 / 307-0 Fax: +49 (0)203 / 307-5000 E-mail: info@kloeckner.com Internet: www.kloeckner.com ISIN: DE000KC01000 WKN: KC0100 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1323077
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1323077  07-Apr-2022 CET/CEST