German steel processor & distributor Klockner & Co SE Klöckner & Co has reported increased sales in January-March 2022 quarter due to the positive price trend by around 60% to EUR 2.4 billion as compared to EUR 1.5 billion in Q1 of 2021. Klöckner & Co SE CEO Mr Guido Kerkhoff said “We once again generated strong earnings in the first quarter of the year. At the same time, we have made great progress over the initial months of the year in the implementation of our Group strategy. With the recognition of our net zero targets by the Science Based Targets initiative, our new green steel categorization metric and a further acceleration of our digital transformation, we have put in place the key building blocks for the years ahead to lead Klöckner & Co into a sustainable and digital future.”January- March 2022 Quarter-------------------------------------Sales – EUR 2.4 billion, up 60% YoYEBITDA –EUR 254 millionNet Income – EUR 172 millionOutlook - Despite the challenging economic environment, Klöckner & Co is optimistic about the operating business. The Company expects stable to slightly increasing shipments in the second quarter compared with the first quarter of 2022. Based on the steel price dynamics and significantly supported by the consistently executed margin-over-volume strategy and the disciplined inventory management, Klöckner & Co anticipates a considerable increase in sales in the second quarter of 2022 compared with the previous quarter. In addition, the Company forecasts EBITDA of EUR 180-240 million before material special effects for the current second quarter as well as a strong and significantly positive cash flow from operating activities.Klöckner & Co SE is a German producer-independent steel and metal distributor. Klöckner's core business is the sale of steel and non-ferrous metals. Based on its distribution and service network of around 140 locations in 13 countries, Klöckner & Co supplies more than 100,000 customers. Currently, the Group has around 7,200 employees. Klöckner & Co had sales of some EUR 7.4 billion in fiscal year 2021.
German steel processor & distributor Klockner & Co SE Klöckner & Co has reported increased sales in January-March 2022 quarter due to the positive price trend by around 60% to EUR 2.4 billion as compared to EUR 1.5 billion in Q1 of 2021. Klöckner & Co SE CEO Mr Guido Kerkhoff said “We once again generated strong earnings in the first quarter of the year. At the same time, we have made great progress over the initial months of the year in the implementation of our Group strategy. With the recognition of our net zero targets by the Science Based Targets initiative, our new green steel categorization metric and a further acceleration of our digital transformation, we have put in place the key building blocks for the years ahead to lead Klöckner & Co into a sustainable and digital future.”January- March 2022 Quarter-------------------------------------Sales – EUR 2.4 billion, up 60% YoYEBITDA –EUR 254 millionNet Income – EUR 172 millionOutlook - Despite the challenging economic environment, Klöckner & Co is optimistic about the operating business. The Company expects stable to slightly increasing shipments in the second quarter compared with the first quarter of 2022. Based on the steel price dynamics and significantly supported by the consistently executed margin-over-volume strategy and the disciplined inventory management, Klöckner & Co anticipates a considerable increase in sales in the second quarter of 2022 compared with the previous quarter. In addition, the Company forecasts EBITDA of EUR 180-240 million before material special effects for the current second quarter as well as a strong and significantly positive cash flow from operating activities.Klöckner & Co SE is a German producer-independent steel and metal distributor. Klöckner's core business is the sale of steel and non-ferrous metals. Based on its distribution and service network of around 140 locations in 13 countries, Klöckner & Co supplies more than 100,000 customers. Currently, the Group has around 7,200 employees. Klöckner & Co had sales of some EUR 7.4 billion in fiscal year 2021.
