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Operating income (EBITDA) of €56 million, slightly above projected range of between €45 million and €55 million
Sales via digital channels further raised to 19% at end of quarter
Significantly higher EBITDA expected for second quarter and forecast raised for full year
Duisburg, Germany, April 25, 2018 – Klöckner & Co reports mainly price-driven sales growth of 1.6% to €1.6 billion in the first quarter of 2018. Operating income (EBITDA), at €56 million, was slightly above the guidance range of €45 million to €55 million but below the €77 million recorded in the first quarter of 2017. The decrease relative to the prior-year quarter is mainly due to less pronounced price effects and a weaker US dollar. At €21 million, net income was once again well into positive figures, compared with €36 million in the prior-year quarter. Earnings per share consequently came to €0.21 (Q1 2017: €0.36).
Klöckner & Co has continued to make good progress in its digital transformation, which is a key element of the Klöckner & Co 2022 strategy. In this connection, the Company further increased the proportion of sales generated through digital channels to 19% at the end of the quarter. The open industrial platform XOM Metals also went live. Initial transactions have already been successfully completed on the platform.
Gisbert Rühl, CEO of Klöckner & Co SE: “In going live with XOM Metals, we have taken the next major step in our wide-ranging digitalization strategy, once again placing customer benefit center stage.”
In a positive overall market environment, Klöckner & Co expects significantly higher EBITDA of €65 million to €75 million for the second quarter. Due to the increase in steel demand and internal optimization measures, operating income for the full year is now expected to be slightly above its prior-year level. Should the current trend toward higher steel prices persist throughout the year, this would result in a further increase in earnings.