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

KLÖCKNER & CO SE

(KCO)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 12/01 03:58:01 pm
7.55 EUR   +5.45%
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Klöckner : Guidance for the third quarter and full year 2020 – Operating income significantly better than previously expected

09/24/2020 | 08:35am EST
09/24/2020, Duisburg
09/24/2020
Ad-hoc Announcements
Guidance for the third quarter and full year 2020 - Operating income significantly better than previously expected

Duisburg, Germany, September 24, 2020, 2:25pm - 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.

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).

Issuer: Klöckner & Co SE, Am Silberpalais 1, 47057 Duisburg, Germany

The shares of Klöckner & Co SE are admitted to trading on the regulated market segment
(Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with
further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in
the SDAX®-Index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.

Contact person Klöckner & Co SE:

Investors
Felix Schmitz
Head of Investor Relations,
Internal Communications & Sustainability
Phone: +49 203 307-2295
Email: felix.schmitz@kloeckner.com

Press
Christian Pokropp - Press Spokesperson
Head of External Communications
Phone: +49 203 307-2050
Email: christian.pokropp@kloeckner.com

Ad-hoc Announcement 09/24/2020 You can download this Ad-hoc Announcement as PDF file.

Disclaimer

Klöckner & Co. SE published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 12:34:02 UTC


© Publicnow 2020
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Financials
Sales 2020 5 234 M 6 268 M 6 268 M
Net income 2020 -147 M -176 M -176 M
Net Debt 2020 334 M 400 M 400 M
P/E ratio 2020 -4,93x
Yield 2020 0,90%
Capitalization 714 M 854 M 855 M
EV / Sales 2020 0,20x
EV / Sales 2021 0,18x
Nbr of Employees 7 732
Free-Float 71,7%
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Consensus
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Mean consensus BUY
Number of Analysts 8
Average target price 7,36 €
Last Close Price 7,16 €
Spread / Highest target 18,7%
Spread / Average Target 2,75%
Spread / Lowest Target -30,2%
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NameTitle
Gisbert Rühl Chairman-Management Board & Co-COO
Dieter H. Vogel Chairman-Supervisory Board
John Ganem Co-Chief Operating Officer
Oliver Falk Chief Financial Officer
Tobias Kollmann Member-Supervisory Board
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