EQS-News

Klöckner & Co reports solid start to the year in a macroeconomic environment that remains challenging

EQS-News: Klöckner & Co SE / Key word(s): Quarter Results Klöckner & Co reports solid start to the year in a macroeconomic environment that remains challenging 07.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Shipments of 1.1 million metric tons slightly up on prior-year quarter (+5%) and considerably higher than preceding quarter (+11%) Sales down to €1.7 billion compared to the same quarter of the previous year due to price movements (Q1 2023: €1.8 billion) Operating income (EBITDA) before material special effects of €42 million considerably higher than preceding quarter (Q4 2023: €17 million) but below operating income in prior-year period (Q1 2023: €65 million) Sale of parts of European distribution business successfully completed in first quarter of 2024 Guidance range of €30 million to €70 million for EBITDA before material special effects in second quarter Duisburg, Germany, May 7, 2024 – Klöckner & Co got off to a solid start in 2024. Total shipments increased slightly by 5% in the first quarter of 2024 in year-on-year comparison and amounted to 1.1 million metric tons (Q1 2023: 1.1 million metric tons). Relative to the preceding quarter, shipments showed a considerable, largely seasonal increase by 11% (Q4 2023: 1.0 million metric tons). In a persistently challenging macroeconomic environment, the Company generated sales of €1.7 billion in the first quarter (Q1 2023: €1.8 billion), which is attributable to the price level being lower. At €42 million, the operating income (EBITDA) before material special effects in the first quarter of 2024 was considerably higher than the previous quarter’s figure of €17 million. However, the result was lower than in the prior-year quarter (Q1 2023: €65 million). In March 2024, the Company successfully completed the sale of parts of its European distribution business. The consolidated income from discontinued operations amounted to €–24 million, mainly due to negative deconsolidation effects from the aforementioned sale. The consolidated income from continuing operations amounted to €–8 million in the first quarter (Q1 2023: €24 million). Overall, the consolidated income including discontinued operations amounted to €–32 million. Accordingly, the earnings per share from continuing operations dropped to €–0.08 (Q1 2023: €0.23) and earnings per share including discontinued operations amounted to €–0.33 (Q1 2023: €–0.08).