Klöckner & Co SE: Guidance for full year 2019 - operating income (EBITDA) burdened
October 14, 2019 at 01:45 pm EDT
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DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Forecast
Klöckner & Co SE: Guidance for full year 2019 - operating income (EBITDA) burdened
14-Oct-2019 / 19:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Based on preliminary figures the operating income (EBITDA) of Klöckner & Co SE for the third quarter 2019 is expected to be EUR26 million before material special effects and therefore within the previously published guidance range of EUR25-35 million.
After the recovery of the steel prices in the USA in the third quarter, which was expected to continue in the fourth quarter, Klöckner & Co SE is now anticipating weaker market conditions and again a negative price development. Against this background, Klöckner & Co SE is, by lowering its previous guidance, expecting an EBITDA for the full year of between EUR120 and EUR130 million before material special effects.
The final results for the third quarter 2019 will be published - as planned - on October 30, 2019.
Information and Explanation of the Issuer to this News:
For the definition of EBITDA reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2018, page 265 (accessible via https://www.kloeckner.com/dam/kco/files/en/publications/2019/AnnualReport_2018.pdf) and with respect to material special effects reference is made to the annual report 2018, page 55 (accessible via https://www.kloeckner.com/dam/kco/files/en/publications/2019/AnnualReport_2018.pdf).
14-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Klöckner & Co SE
Am Silberpalais 1
47057 Duisburg
Germany
Phone:
+49 (0)203 / 307-0
Fax:
+49 (0)203 / 307-5000
E-mail:
info@kloeckner.com
Internet:
www.kloeckner.com
ISIN:
DE000KC01000
WKN:
KC0100
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Kloeckner & Co SE is a Germany-based steel and metal distributor and steel service center. The Company's range includes products for building installations, roof and wall construction, and water supply. It processes flat steel products, such as thin sheets and strips as well as thick sheets, and long steel products, including merchant bars, sectional steel, beams, tubes, and hollow sections, such as structural hollow sections, precision tubes, and seamless heavy-wall pipes, stainless steel, and high-grade steel, including sheet, profiles, and tubes, as well as aluminum profiles, sheet, strip, and plates. Its service portfolio comprises coil processing, forming, and manufacturing of pressed parts, computer numerical control (CNC) turning and milling, two-dimensional (2D) and three-dimensional (3D) tube laser cutting, laser and water jet cutting, processing of steel and high-grade structural steel thermal cutting, surface treatment, including shot blasting and primer painting.