Klöckner & Co., Germany-based steel and non-ferrous metals producer and distributor, has announced its interim financial results for the second quarter and the first half of this year.
In the second quarter, the company registered a net loss of €23 million, compared to a net profit of €12 million in the same quarter of 2023, while its sales revenue came to €1.77 billion, rising by 0.6 percent year on year. In addition, Klöckner & Co.’s EDITDA came to €42 million, compared to €65 million in the same quarter of last year.
Meanwhile, in the first half of the year, the company recorded a net loss of €55 million, compared to a net profit of €4 million in the same period last year, while its sales revenue amounted to €3.5 billion, down by 2.6 percent year on year, due to lower steel prices. Also, Klöckner’s EBITDA declined by 41.5 percent year on year to €79 million.
The company expects that steel shipments will increase slightly in the remainder of this year. It still estimates that, due to price corrections, sales will show a small decline in the full year. The company also forecasts that its EBITDA will be in the range of €20-60 million in the third quarter and €120-180 million in the full year.