UK markets closed

  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     

  • FTSE 250

    18,636.98
    -29.80 (-0.16%)
     

  • AIM

    875.21
    -1.01 (-0.12%)
     

  • GBP/EUR

    1.1593
    -0.0018 (-0.16%)
     

  • GBP/USD

    1.2103
    -0.0072 (-0.59%)
     

  • BTC-GBP

    15,818.03
    -485.29 (-2.98%)
     

  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     

  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     

  • DOW

    31,097.26
    +321.83 (+1.05%)
     

  • CRUDE OIL

    108.46
    +2.70 (+2.55%)
     

  • GOLD FUTURES

    1,812.90
    +5.60 (+0.31%)
     

  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     

  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     

  • DAX

    12,813.03
    +29.26 (+0.23%)
     

  • CAC 40

    5,931.06
    +8.20 (+0.14%)
     

Klöckner & Co SE: Operating income considerably stronger than expected

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • KCO

Klöckner & Co SE / Key word(s): Quarter Results/Preliminary Results
Klöckner & Co SE: Operating income considerably stronger than expected

07-Apr-2022 / 14:11 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.

The renewed supply shortage has led to a significant increase in steel prices in Klöckner & Co's core markets, Europe and the USA. Against this backdrop, supported by a determined margin-over-volume strategy and disciplined net working capital management, the company achieved a considerably stronger operating income (EBITDA) before material special effects in the first quarter of 2022 than originally expected. According to preliminary figures, EBITDA before material special effects in the first quarter of 2022 amounts to € 201 million, against the previous expectation of € 130-180 million.

In addition the company has generated positive material special effects in the first quarter, in particular from the sale of properties in Switzerland and France amounting to € 53 million.

The figures for the first quarter will be announced on May 4, 2022.

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 2021, p. 36 (accessible via https://www.kloeckner.com/en/investors/publications.html). 

07-Apr-2022 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:

info@kloeckner.com

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:

1323077


 

End of Announcement

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting

Latest stories

  • UK manufacturing slows as business optimism hits lowest in more than two years

    Business optimism dipped to its lowest since May 2020, when the country was still in the first lockdown, as the number of firms expecting production to rise over the coming year fell to 47%

  • Worldwide Electric Fireplaces Industry to 2031 - Featuring Empire Comfort Systems, European Home and Glen Dimplex Americas Among Others

    Global Electric Fireplaces Market Global Electric Fireplaces Market Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Electric Fireplaces Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering. This recent report on the electric fireplaces market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. Companies Mentioned Empire Comfort SystemsEuropean H

  • BBC Test Match Special producer Adam Mountford on his first boss

    Adam Mountford took over as producer of cricket’s Test Match Special in 2007 from Peter Baxter, who had held the reins for over 30 years.

  • Europe stocks steady as eurozone inflation hits record high

    European stock markets steadied Friday with traders having expected news of record-high eurozone inflation that reinforced expectations of an ECB interest rate hike this month.

  • Surge in early retirement is fuelling inflation, says top Treasury mandarin

    A surge of older workers taking early retirement is fuelling inflation and limiting the size of the economy, the Treasury’s top economics mandarin has warned.

  • UK fraud office closes four-year probe into Chemring

    The Serious Fraud Office opened its investigation into Chemring, its subsidiary Chemring Technology Solutions and associated persons in 2018.

  • The Worldwide Ethernet Controller Industry is Projected to Reach $13.4 Billion by 2027

    Global Ethernet Controller Market Global Ethernet Controller Market Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Global Ethernet Controller Market (2022-2027) by Function, Bandwidth, Packaging, Application, Geography, Competitive Analysis, and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Ethernet Controller Market is estimated to be USD 9.81 Bn in 2022 and is projected to reach USD 13.47 Bn by 2027, growing at a CAGR of 6.5

  • Does Nongfu Spring Co (HKG:9633) have an economic moat?

    The persistent risk of economic uncertainty and market volatility mean that it can be worth seeking out high quality stocks for your portfolio. Safe, profitabl...

  • Global Actuators Market to Reach $57 Billion by 2026

    Abstract: What`s New for 2022? -Global competitiveness and key competitor percentage market shares. -Market presence across multiple geographies - Strong/Active/Niche/Trivial.New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Actuators Industry" - https://www.reportlinker.com/p05797766/?utm_source=GNW -Online interactive peer-to-peer collaborative bespoke updates -Access to our digital archives and MarketGlass Research Platform -Complimentary

  • Russia seizes control of Sakhalin gas project, raises stakes with West

    President Vladimir Putin has raised the stakes in an economic war with the West and its allies with a decree that seizes full control of the Sakhalin-2 gas and oil project in Russia's far east, a move that could force out Shell and Japanese investors. The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%. The five-page decree, which follows Western sanctions imposed on Moscow over its invasion of Ukraine, indicates the Kremlin will now decide whether the foreign partners can stay.

  • Near-Eye Display Market Segmentation: By Device Type, By Components, By Technology, By Vertical, And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031

    Near-Eye Display Market to surpass USD 13 billion by 2031 from USD 1. 4 billion in 2021 at a CAGR of 25. 2% in the coming years, i. e. , 2021-2031. Product Overview NEDs, also known as head mounted displays (HMDs) or wearable displays, project a virtual image into one or both eyes’ field of view.New York, June 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Near-Eye Display Market Segmentation: By Device Type, By Components, By Technology, By Vertical, And Regi

  • Latin America B2C E-Commerce and Payment Market 2022

    Brazil and Mexico make up the highest share of B2C E-Commerce in Latin America. Online shopping habits accelerate in the Latin American region. Although B2C E-Commerce in Latin America got off to a slow start when compared to Europe or North America, the region has come a long way since then with a B2C E-Commerce penetration rate of over 50% in multiple countries in the region.New York, June 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Latin America B2C E-Co

  • Jump in people paying higher rates of tax

    There are a projected 5.5 million higher rate income taxpayers in 2022/23, marking a 43.9% increase compared with 2019/20, HMRC said.

  • Disposable income hit for homeowners with fixed mortgage deals about to expire

    High inflation and rising interest rates will add to the pressures on mortgage borrowers.

  • Instagram tests turning every video into a Reel

    Reels are the fastest growing form of content on Instagram and Facebook

  • Football takeovers a potential ‘lifeline’ as players’ wages squeeze sport’s finances

    Traditional London clubs more dependent on matchday revenue face Tube strike disruption

  • Global Flexible Electronics Market to Reach $44.8 Billion by 2026

    Abstract: What`s New for 2022? -Global competitiveness and key competitor percentage market shares. -Market presence across multiple geographies - Strong/Active/Niche/Trivial.New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Flexible Electronics Industry" - https://www.reportlinker.com/p05442624/?utm_source=GNW -Online interactive peer-to-peer collaborative bespoke updates -Access to our digital archives and MarketGlass Research Platform -Co

  • Exxon about to shut down French Fos refinery due to strike

    PARIS (Reuters) -Exxon Mobil said on Friday that a strike by workers over pay was forcing it to gradually shut down operations at its Fos refinery plant in southern France. The walkouts at Esso started on June 28. Wage negotiations are scheduled for September but the CGT union wants management to also commit to a bonus.

  • Outlook on the 8K Technology Global Market to 2027 - Proliferation of 5G and Increasing On-Demand Content Presents Opportunities

    Global 8K Technology Market Global 8K Technology Market Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Global 8K Technology Market (2022-2027) by Product, Consumers, Resolution, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global 8K Technology Market is estimated to be USD 3.26 Bn in 2022 and is projected to reach USD 18.9 Bn by 2027, growing at a CAGR of 42.12%.Market dynamics are forces that imp

  • Global Aerospace Materials Market to Reach $30.1 Billion by 2027

    Abstract: What’s New for 2022? -Global competitiveness and key competitor percentage market shares. -Market presence across multiple geographies - Strong/Active/Niche/Trivial.New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Aerospace Materials Industry" - https://www.reportlinker.com/p05797793/?utm_source=GNW -Online interactive peer-to-peer collaborative bespoke updates -Access to our digital archives and MarketGlass Research Platform -Com