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MarketScreener Homepage  >  Equities  >  Xetra  >  Klöckner & Co SE    KCO   DE000KC01000

KLÖCKNER & CO SE

(KCO)
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7.498 EUR   +1.53%
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Klöckner & Co SE: Guidance for the third quarter and full year 2020 - Operating income significantly better than previously expected

09/24/2020 | 08:25am EST

DGAP-Ad-hoc: Klöckner & Co SE / Key word(s): Forecast
Klöckner & Co SE: Guidance for the third quarter and full year 2020 - Operating income significantly better than previously expected

24-Sep-2020 / 14:25 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.



In the course of the third quarter the negative impact of the COVID-19 pandemic on the operating business of Klöckner & Co was further mitigated. In particular, the consistent implementation of the "Surtsey" transformation project with the associated positive digitalization and restructuring effects contributed to this. In addition, the gradual, albeit still volatile, recovery in demand in our core markets of Europe and the United States, especially in September, and the recently improved price environment had a positive effect on the operating income (EBITDA) for the third quarter. Contrary to the previous expectation of an EBITDA of ?15-25 million, the Company now expects, based on preliminary calculations, a result of ?30-40 million before material special effects in the third quarter.

Against the background of the again increasing COVID-19 infection rates, the uncertainty about the business expectations for the fourth quarter remains high, especially about the expected demand. However, the ongoing digitalization and the consistent cost management within the scope of the "Surtsey" project as well as the improving price development in Europe and the United States lead to an increased income expectation of ?75-95 million before material special effects for the full year 2020, after a range of ?50-70 million was previously assumed. Furthermore, a positive cash flow from operating activities is still expected.

The interim statement for the third quarter of 2020 will be published on November 3, 2020.

Information and Explanation of the Issuer to this News:

For the definitions of EBITDA and EBITDA before material special effects reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2019, page 273 (accessible via https://www.kloeckner.com/en/investors/publications.html).
 

24-Sep-2020 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
EQS News ID: 1136211

 
End of Announcement DGAP News Service

1136211  24-Sep-2020 CET/CEST

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© EQS 2020
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Sales 2020 5 234 M 6 370 M 6 370 M
Net income 2020 -147 M -179 M -179 M
Net Debt 2020 334 M 406 M 406 M
P/E ratio 2020 -5,01x
Yield 2020 0,87%
Capitalization 737 M 895 M 897 M
EV / Sales 2020 0,20x
EV / Sales 2021 0,18x
Nbr of Employees 7 732
Free-Float 71,7%
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Average target price 7,36 €
Last Close Price 7,39 €
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Gisbert Rühl Chairman-Management Board & Co-COO
Dieter H. Vogel Chairman-Supervisory Board
John Ganem Co-Chief Operating Officer
Oliver Falk Chief Financial Officer
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