Extraordinarily strong operating income expected in first quarter of 2021

Duisburg, Germany, February 9, 2021, 3:11pm – At the beginning of the current fiscal year the recovery in steel demand continued. In addition, price levels in Europe and the USA have continued to rise significantly. Due to the cost base already sustainably reduced by the Surtsey project, Klöckner & Co can benefit particularly strongly from the positive market development. Against this background, the company expects an operating income (EBITDA) before material special effects of €110-130 million in the first quarter of 2021 and therefore very considerably above the prior-year quarter.

Previously, operating income before material special effects was only expected to improve considerably compared with the prior-year quarter (first quarter of 2020: €21 million).

The guidance for the fiscal year 2021 will be announced together with the results for the fiscal year 2020 on March 10, 2021.

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).