In October 2010, we presented our long-term growth strategy “Klöckner & Co 2020”. It sets the strategic direction for Klöckner & Co to develop further into a global multi-metal distributor with faster-than-average growth by 2020.
The “Klöckner & Co 2020” strategy is built on the four pillars of external growth, organic growth, business optimization, and personnel and management development.
After signs of renewed economic slowdown multiplied over the course of the third quarter of 2011, we have streamlined our strategy and implemented an extensive restructuring program.
In light of the further sharp decline in European steel demand and the uncertain outlook, we substantially expanded the restructuring program during 2012.
All outstanding measures for business optimization (see graph below) will be completed by mid-2013.
From 2014, the program is expected to make a fully effective annual contribution to EBITDA totaling around €150 million.
So far, the Group-wide restructuring program has added €63 million to EBITDA since it started in September 2011 – thereof €46 million in the fiscal year 2012 and €12 million in the first quarter of 2013.
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