Put company on watchlist
Klöckner & Co SE
ISIN:
DE000KC01000
WKN:
KC0100
Country: Deutschland
·
Primary market: Germany
·
EQS NID: 1155309
Levermann Score
15 December 2020 13:18PM
Klöckner & Co SE: Operating income in fiscal year 2020 considerably above expectations
DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Forecast/Annual Results
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 €105-115 million for the full year 2020, contrary to previous expectations of €75-95 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. |
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: | 1155309 |
End of Announcement | DGAP News Service |
|
1155309 15-Dec-2020 CET/CEST