DGAP-Adhoc Klöckner & Co SE: Extraordinarily strong operating income expected in first quarter of 2021
DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Forecast/Quarter Results
At the beginning of the current fiscal year the recovery in steel demand continued. In addition, price levels in Europe and the USA have continued to rise significantly. Due to the cost base already sustainably reduced by the Surtsey project, Klöckner & Co can benefit particularly strongly from the positive market development. Against this background, the company expects an operating income (EBITDA) before material special effects of €110-130 million in the first quarter of 2021 and therefore very considerably above the prior-year quarter.
Previously, operating income before material special effects was only expected to improve considerably compared with the prior-year quarter (first quarter of 2020: €21 million).
The guidance for the fiscal year 2021 will be announced together with the results for the fiscal year 2020 on March 10, 2021.
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 2019, page 273 (accessible via https://www.kloeckner.com/en/investors/publications.html).
09-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Klöckner & Co SE|
|Am Silberpalais 1|
|Phone:||+49 (0)203 / 307-0|
|Fax:||+49 (0)203 / 307-5000|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1167077|
|End of Announcement||DGAP News Service|
1167077 09-Feb-2021 CET/CEST