Klöckner & Co SE

  • WKN: KC0100
  • ISIN: DE000KC01000
  • Land: Deutschland

Nachricht vom 22.06.2020 | 19:50

Klöckner & Co SE expects a positive operating income in the second quarter

Klöckner & Co SE / Key word(s): Forecast/Quarter Results
Klöckner & Co SE expects a positive operating income in the second quarter

22-Jun-2020 / 19:50 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.

The negative impact of the global COVID-19 pandemic on shipments and operating income (EBITDA) at Klöckner & Co SE in the second quarter was mitigated more than expected, supported by the advanced digitalization of the Company. This included the smooth shift of large parts of working activities to the home office, which enabled continuous delivery capability and proved to be a significant competitive advantage. In addition, further countermeasures and cost-saving measures were implemented immediately. Compared with the previous forecast of a negative operating income before material special effects in the low double-digit million euro range, the Company now expects to achieve a positive EBITDA of €0-10 million before material special effects, which will be incurred in particular in connection with the reduction of the workforce by more than 1,200 employees. In addition, a positive cash flow from operating activities is still expected in the second quarter.

The full interim report for the first half of 2020 will be published on August 14, 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).

22-Jun-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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