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Operating income (EBITDA), at €82 million, or €85 million before non-recurring items, significantly above the original guidance range of €65 million to €75 million
Proportion of Group sales generated via digital channels exceeds 20% mark
Positive earnings trend expected to continue in third quarter and full year
Duisburg, Germany, July 24, 2018 – Klöckner & Co SE sustained its positive earnings trend in the second quarter of 2018. Benefiting from market developments in the USA, the Company generated its best quarterly earnings in over seven years with operating income (EBITDA) of €82 million (€85 million before non-recurring items), compared with €63 million in the prior-year period. Net income rose from €24 million in the prior-year quarter to €33 million. Earnings per share consequently came to €0.33 (Q2 2017: €0.23).
Klöckner & Co notably attained further milestones in its digital transformation. The proportion of sales generated through digital channels increased to 21% at the end of the quarter, having more than doubled in the last 24 months. The recently launched online shop in Belgium will contribute to a further significant increase. The XOM Materials open industry platform launched by Klöckner & Co likewise made dynamic progress. In the second quarter, another metal distributor and, for the first time, a large international processor of engineering plastics joined the platform.
Gisbert Rühl, Chairman of the Management Board of Klöckner & Co SE: “Thanks to the strong growth in our online business, we have now, for the first time, generated more than 20% of Group sales via digital channels. This once again confirms our digital leadership in the steel and metals industry.”
In view of the ongoing positive market environment, Klöckner & Co anticipates another sharp year-on-year rise in operating income (EBITDA) in the third quarter, with EBITDA of €55 million to €65 million and correspondingly positive net income. The expectation for the full year is consequently now at least a slight increase in EBITDA compared with the €220 million prior-year figure. In light of this, net income, too, is projected to be clearly positive again.