OUTLOOK

3RD QUARTER 2021¹

We anticipate that the fourth quarter will see a seasonal decrease in shipments and sales relative to the preceding quarter, although only to a slight extent. For the full year 2021, we continue to expect EBITDA1 of around €800 million before material special effects, which will then be the best operating income since the IPO in 2006.

In light of the expected record earnings for fiscal year 2021, we plan to propose a dividend in the extraordinary amount of between €0.90 and €1.10 per share at the Annual General Meeting.

Financial Performance Indicators Current Outlook
Shipments considerable increase qoq
Group Sales considerable increase qoq

Operating Income

(EBITDA)² before material special effects

€15-25m

Cash Flow from operating activities negative expected
Financial Performance Indicators Current Outlook
Shipments considerable decrease yoy
Group Sales considerable decrease yoy

Operating Income

(EBITDA)² before material special effects

€50-70m
Cash Flow from operating activities positive expected
Financial performance indicators Current outlook Previous outlook²
Shipments slight increase n.a.
Group sales stable n.a.
Operating result (EBITDA)3 before material special effects considerable increase n.a.
Financial performance indicators Current outlook Previous outlook²
Operating result (EBITDA)3,4 25-35 Mio. € n.a.

¹ Information is taken from the Annual Report 2019 and the analysts' and investors' presentations Fiscal Year 2019 and should therefore be seen in the context of further comments in the respective reports.
² If nothing is presented in this column, the previous outlook remains unchanged.
³ Definitions can be found in the Annual Report 2019 or in the glossary of key figures. 

Klöckner & Co SE expects an EBITDA2 before material special effects of €105-115 million for the full year 2020 and a significantly positive cash flow from operating activities.

In addition, the market recovery is expected to continue at the beginning of 2021 and, in conjunction with the rapidly increasing digitalization and restructuring effects from the project Surtsey, will lead to a considerably improved operating income before special material effects in the first quarter of 2021 compared to the same quarter of the previous year.

According to preliminary figures, Klöckner & Co SE generated a record operating income (EBITDA) before material special effects of €401 million in the first half of the financial year 2021. Due to the continued positive dynamics of steel prices in Europe and the US at the beginning of the third quarter combined with extremely strict net working capital management and supported by the substantial effects from the Surtsey project, Klöckner & Co SE anticipates EBITDA before material special effects in the third quarter to be significantly stronger than previously expected by the market at €200-230 million.

Furthermore, the company expects to achieve EBITDA before material special effects of €650-700 million in the full year 2021, which will then be the best operating full-year income since the IPO in 2006. This forecast is also above the previous market expectation.1,2

¹Definitions can be found in the Annual Report 2020 or in the glossary of key figures.

This presentation contains forward-looking statements which reflect the current views of the management of Klöckner & Co SE with respect to future events. They generally are designated by the words “expect”, “assume”, “presume”, “intend”, “estimate”, “strive for”, “aim for”, “plan”, “will”, “endeavor”, “outlook” and comparable expressions and generally contain information that relates to expectations or goals for economic conditions, sales proceeds or other yardsticks for the success of the enterprise. Forward-looking statements are based on currently valid plans, estimates and expectations and are therefore only valid on the day on which they are made. You therefore should consider them with caution. Such statements are subject to numerous risks and factors of uncertainty (e. g. those described in publications) most of which are difficult to assess and which generally are outside of the control of Klöckner & Co SE. The relevant factors include the effects of significant strategic and operational initiatives, including the acquisition or disposal of companies or other assets. If these or other risks and factors of uncertainty occur or if the assumptions on which the statements are based turn out to be incorrect, the actual results of Klöckner & Co SE can deviate significantly from those that are expressed or implied in these statements. Klöckner & Co SE cannot give any guarantee that the expectations or goals will be attained. Klöckner & Co SE – notwithstanding existing legal obligations – rejects any responsibility for updating the forward-looking statements through taking into consideration new information or future events or other things.

In addition to the key figures prepared in accordance with IFRS and German-GAAP respectively, Klöckner & Co SE is presenting non-GAAP key figures such as EBITDA, EBIT, Net Working Capital and net financial liabilities that are not a component of the accounting regulations. These key figures are to be viewed as supplementary to, but not as a substitute for data prepared in accordance with IFRS. Non-GAAP key figures are not subject to IFRS or any other generally applicable accounting regulations. In assessing the net assets, financial position and results of operations of Klöckner & Co SE, these supplementary figures should not be used in isolation or as an alternative to the key figures presented in the consolidated financial statements and calculated in accordance with the relevant accounting principles. Other companies may base these concepts upon other definitions. Please refer to the definitions in the annual report.

Rounding differences may occur with respect to percentages and figures.

The English translation of the Annual Report and other financial reports are also available, in case of deviations the German versions shall prevail.

YOUR CONTACT

Felix Schmitz

Head of Investor Relations | Head of Strategic Sustainability

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Felix Schmitz

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