Duisburg headquartered leading German steel processor & distributor y Klöckner & Co has reported increased sales, mainly due to higher steel and metal prices, by a very considerable 36.5% to EUR 7.4 billion in the first nine months of 2022 and adjusted EBITDA) of EUR 439 million as compared to EUR 678 million in 9 months of 2021. Net income was consequently EUR 301 million as compared to EUR 490 million in 9 months of 2021 Klöckner & Co CEO Mr Guido Kerkhoff said “Despite the challenging economic environment, we have continued to systematically pursue our strategy and achieved key milestones. With the launch of Nexigen®, our new brand for CO2-reduced products and services, we are underscoring our ambition as a pioneer of a sustainable steel industry. Having already established our role as digital pioneer for the future of our industry, this further reinforces our position as a reliable partner at our customers’ side.” Klöckner & Co anticipates that the fourth quarter will bring a seasonal and price-driven considerable decrease in shipments and sales relative to the preceding quarter. As a result of the significant steel price correction, the active inventory reduction in the prevailing macroeconomic environment and the inventory writedowns, the Company expects EBITDA before material special effects to be around EUR 400 million in 2022.