KLÖCKNER & CO SE IMPAIRS GOODWILL
Duisburg, Germany, December 9, 2015 – After the market environment for steel and metal products in the US has once again developed worse than generally expected in the current year, Klöckner & Co SE recognizes impairments on the complete goodwill of the North American activities of around €270 million. As such by the end of the current year – with equity standing at around €1 billion – remaining goodwill in the group balance sheet of Klöckner & Co SE is expected to be around €30 million. Including restructuring expenses in Europe and tax assessments to be finalized in the context of the goodwill impairment, from today`s point of view a negative group net income of overall €350 to €380 million is expected for 2015.
The forecasts for the current year of an operating income (EBITDA) before restructuring expenses of up to €85m and a positive free cash flow are confirmed. In the following year a significant increase in EBITDA and a positive group net income are expected.
The complete annual report as of December 31, 2015 containing the final figures will be published on March 1, 2016.
Issuer: Klöckner & Co SE, Am Silberpalais 1, 47057 Duisburg, Germany
The shares of Klöckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the MDAX®-Index of Deutsche Börse.
ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
Contact person Klöckner & Co SE:
Christian Pokropp – Press Spokesperson
Head of Investor Relations & Corporate Communications
Telephone: +49 (0) 203-307-2050
Fax: +49 (0) 203-307-5025