DGAP-News

Klöckner & Co SE announces best half-year results in six years

DGAP-News: Klöckner & Co SE / Key word(s): Half Year Results Klöckner & Co SE announces best half-year results in six years 26.07.2017 / 07:00 The issuer is solely responsible for the content of this announcement.

- Operating income (EBITDA) of EUR140 million in first half of 2017, compared with EUR88 million in the prior-year period

- Share of sales generated through digital channels progressively raised to 15% in second quarter of 2017

- Full-year forecast of significant increase in EBITDA by more than 10% confirmed

Duisburg, Germany, July 26, 2017 - Klöckner & Co's sales increased in the first half of 2017 by a substantial 11.7% to EUR3.2 billion, driven chiefly by prices. Operating income (EBITDA) improved even more strongly by 58.6% to EUR140 million. Alongside the more favorable price situation, optimization measures were the other main driver of the earnings performance. Net income more than tripled to EUR59 million, compared with EUR19 million in the prior-year period. Earnings per share rose accordingly from EUR0.18 to EUR0.59.

Klöckner & Co is thus on track to attain its target of increasing full-year EBITDA by more than 10% relative to the EUR196 million prior-year figure. The forecast for third-quarter EBITDA, however, at EUR35 million to EUR45 million, is below the very strong level seen in the preceding quarters due to the less favorable price situation observed recently.

Klöckner & Co has made good progress in implementation of its "Klöckner & Co 2020" strategy. The share of sales generated via digital channels thus progressively increased to 15% in the second quarter of 2017. Plans are to further expand digital sales with measures including the newly launched online shops in Austria and the Netherlands. Beginning in Germany, the online shops are also to be opened up to third-party vendors, initially for complementary products. That is an important precursor stage to an open industry platform that also includes competitors, the first version of which is to be launched before the end of this year.