KLÖCKNER & CO AG: BUSINESS DEVELOPMENT BETTER THAN EXPECTED
- Klöckner & Co boosts operating result by 60 percent in first half of 2008 over last year, preliminary results show
Despite a cooling global economy, Klöckner & Co achieved a result during the first half of 2008 that significantly exceeds market expectations, preliminary figures show. The preliminary operating result (Earnings before interest, taxes, depreciations and amortizations; EBITDA) totals €310 million, about €115 million above the same figure last year of €195 million. The driving forces behind this increase of nearly 60 percent were mainly the successful transformation of price increases for steel products into higher gross margins and the contribution of acquired companies. The preliminary operating result (EBITDA) for the second quarter is about €200 million, nearly 100 percent above the previous year’s level of €103 million. For the entire year, Klöckner & Co expects to generate an operating result (EBITDA) that surpasses the present market expectation of about €480 million.
The company’s interim report for the second quarter and the first half-year 2008 will be released on August 14, 2008 on www.kloeckner.de .
Issuer: Klöckner & Co SE, Am Silberpalais 1, D 47057 Duisburg
ISIN: DE000KC01000; WKN: KCO0100
Listed: Amtlicher Markt / Prime Standard; Frankfurter Wertpapierbörse
Further information can be obtained on the webpage of Klöckner & Co: www.kloeckner.de
Peter Ringsleben - Corporate Communications
Claudia Uhlendorf - Corporate Communications
Dr. Thilo Theilen - Investor Relations