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Kloeckner & Co SE
Earnings Release • Jul 29, 2021
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Earnings Release
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News Details
Ad-hoc | 29 July 2021 11:37
Klöckner & Co SE: Strongest operating full-year income expected since IPO
Klöckner & Co SE / Key word(s): Forecast/Annual Results
Klöckner & Co SE: Strongest operating full-year income expected since IPO
29-Jul-2021 / 11:37 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.
According to preliminary figures, Klöckner & Co SE generated a record operating income (EBITDA) before material special effects of €401 million in the first half of the financial year 2021. Due to the continued positive dynamics of steel prices in Europe and the US at the beginning of the third quarter combined with extremely strict net working capital management and supported by the substantial effects from the Surtsey project, Klöckner & Co SE anticipates EBITDA before material special effects in the third quarter to be significantly stronger than previously expected by the market at €200-230 million.
Furthermore, the company expects to achieve EBITDA before material special effects of €650-700 million in the full year 2021, which will then be the best operating full-year income since the IPO in 2006. This forecast is also above the previous market expectation.
The figures for the second quarter will be announced on August 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 2020, p. 40 (accessible via https://www.kloeckner.com/en/investors/publications.html).
29-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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: | [email protected] |
| 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: | 1222640 |
| End of Announcement | DGAP News Service |