- ISIN DE000KC01000
- Land Deutschland
Klöckner & Co SE
Klöckner & Co SE: Adjustment of full-year 2023 guidance
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Klöckner & Co SE / Key word(s): Annual Results/Change in Forecast
Klöckner & Co SE achieved an operating income (EBITDA) before material special effects of €41 million in the third quarter 2023, which is at the lower end of the forecast range of €40-80 million, but considerably above the result of the prior-year quarter (Q3 2022: €16 million). The result was driven by the continued positive development in North America and Switzerland.
However, due to the ongoing challenging macroeconomic environment, especially in Europe, contrary to the previous forecast of €220-280 million, EBITDA before material special effects of €170-200 million is now anticipated for the full year 2023. To counteract this in Europe, Klöckner & Co SE has initiated an efficiency program with a planned reduction in the number of employees in the European distribution business by 10% with implementation starting in the fourth quarter of 2023. The aim is to achieve a recurring annual improvement in operating income (EBITDA) before material special effects by around €25 million by as early as 2024. A strong and significantly positive cash flow from operating activities is still expected for the full year 2023. The additional figures for the third quarter 2023 will be announced tomorrow, on October 31, 2023. End of Inside Information Information and Explanation of the Issuer to this announcement: 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 2022, p. 37 (accessible via https://www.kloeckner.com/en/investors/publications.html).
30-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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: | 1760835 |
| End of Announcement | EQS News Service |
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