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DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Forecast/Annual Results
Klöckner & Co SE: Operating income in fiscal year 2020 considerably above
expectations
15-Dec-2020 / 13:18 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.
In the course of the fourth quarter, the recovery in steel demand continued
more strongly than previously expected. At the same time, the improved price
level has already had a positive impact on the operating income (EBITDA)
before material special effects of Klöckner & Co SE. Klöckner & Co was able
to benefit disproportionately from these positive market developments due to
the advanced transformation project Surtsey. Therefore, Klöckner & Co SE
expects now an EBITDA before material special effects of &euro105-115
million for the full year 2020, contrary to previous expectations of
&euro75-95 million, and still a significantly positive cash flow from
operating activities.
In addition, the market recovery is expected to continue at the beginning of
the new year and, in conjunction with the now rapidly increasing
digitalization and restructuring effects from the project Surtsey, will lead
to a considerably improved operating income before special material effects
in the first quarter of 2021 compared to the same quarter of the previous
year.
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 2019,
page 273 (accessible via
https://www.kloeckner.com/en/investors/publications.html).
15-Dec-2020 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: 1155309
End of Announcement DGAP News Service
1155309 15-Dec-2020 CET/CEST
(END) Dow Jones Newswires
December 15, 2020 07:18 ET (12:18 GMT)
