Klöckner & Co continues solid operational performance in the second quarter of 2026 and moves forward with business combination with Worthington Steel

On June 3, 2026, Worthington Steel’s voluntary public takeover bid was completed. According to the voting rights notification, Worthington Steel thus holds approximately 62% of all outstanding Klöckner & Co shares. Together with Worthington Steel, Klöckner & Co is consistently streamlining its strategic focus on higher value-added products and services, laying the foundation for profitable growth in North America and Europe. As part of the change in control, the syndicated loan was reduced to €150 million and supplemented by a revolving shareholder loan from Worthington Steel of up to €200 million.

On July 15, 2026, Worthington Steel published the offering circular for the public delisting acquisition offer, giving the remaining shareholders the opportunity to sell their shares for €11.00 per share. The Management Board and Supervisory Board of Klöckner & Co SE published their joint response statement on July 22, 2026, and, following careful and independent review, concluded that they are unable to recommend either acceptance or rejection of the offer to shareholders. The delisting acquisition offer is not subject to any completion conditions and can therefore proceed regardless of the level of acceptance. In accordance with the delisting agreement, Klöckner & Co applied to the Frankfurt Stock Exchange on July 29, 2026, for the revocation of the admission of its shares to trading. As a result, the delisting is expected to take effect immediately upon expiry of the acceptance period. The acceptance period is expected to end on August 12, 2026, at 24 hours (Frankfurt am Main local time).

The divestment of the Becker Group is proceeding as planned. As early as January 2026, following a comprehensive analysis and evaluation of possible strategic options for the Becker Group, the Management Board of Klöckner & Co had announced its intention to divest the business in order to focus even stronger on profitable growth in higher value-added products and services, in line with the Company’s strategy.

Despite the continuing challenging macroeconomic environment marked by heightened geopolitical uncertainties, particularly as a result of the ongoing conflict in the Middle East, Klöckner & Co generated EBITDA before material special effects of €109 million during the reporting period. For the full year 2026, the company now expects a slight decline in shipments, while the sales volume is expected to rise slightly, driven by higher average prices. Furthermore, the forecast for EBITDA before material special effects has been specified to a range of €170 million to €250 million. Klöckner & Co also expects cash flow from operating activities for the full year 2026 to remain positive, although it is now projected to fall below the prior-year level due to the higher tied-up net working capital funds as a result of price increases.