According to the data released by Klöckner & Co, EBITDA before material special effects increased year on year to EUR 46 million. The figure indicated a stronger performance compared to EUR 42 million recorded in the same period of 2025. In addition, a significant recovery was seen compared to the EUR 21 million reported in the previous quarter.
In the first quarter, the company’s shipments decreased by 6.4% year on year to 1.096 million mt. The decline was mainly attributed to the divestment of eight distribution sites in the US completed at the end of 2025. However, excluding the impact of these divestments, shipments increased by 2.1%. The positive performance in the European operations partly offset the weaker performance in the Americas segment.
Meanwhile, the company’s sales revenues declined by 5.9% year on year to EUR 1.57 billion in the first three months of the year. The decline in shipments was the main factor behind the decrease in sales, while gross profit amounted to EUR 298 million. Despite this, the gross profit margin remained stable at 19%, unchanged compared to the same period of the previous year.
A notable improvement was also seen on the net loss side. The company’s net loss decreased to EUR 4 million from EUR 28 million recorded in the same period last year. Loss per share also improved from EUR -0.28 to EUR -0.04.
On the cash flow side, pressure emerged due to the seasonal increase in net working capital. In the first quarter of 2026, cash flow from operating activities amounted to EUR -270 million, while free cash flow was reported at EUR -306 million. The company’s equity increased to EUR 1.648 billion at the end of the quarter, while the equity ratio stood at 44.5%.
The company’s CEO, Guido Kerkhoff, stated that the company’s business model remained resilient despite challenging market conditions, adding that one of the most significant developments in the first quarter of 2026 was the takeover process carried out by Worthington Steel. According to the statement, Worthington Steel has secured 61.87% of Klöckner & Co shares. The transaction is expected to be completed in the second half of 2026 following the necessary regulatory approvals.
Meanwhile, the company announced that the divestment process of Becker Group is progressing as planned and discussions with potential buyers are ongoing.
Sharing its expectations for the second quarter of 2026, the company forecasts a slight increase in shipments and a significant rise in sales revenues. Klöckner & Co stated that EBITDA before material special effects is expected to range between EUR 40 million and EUR 80 million in the second quarter.
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