Klöckner & Co: Strong results for financial year 2007
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finances
Duisburg (euro adhoc) - Duisburg, January 29, 2008 - According to the provisional figures, the Klöckner & Co Group achieved sales of around EUR6.3 billion and EBITDA of around EUR365 million in the financial year 2007. The company therefore exceeded its forecast adjusted in October 2007 of around EUR355 million. In addition, net liabilities, which had risen to EUR996 million in mid-2007 due largely to acquisitions, were reduced to around EUR750 million by the end of the year.
The rise in sales from EUR5.5 billion in 2006 to EUR6.3 billion in 2007 was essentially the result of price increases and acquisitions. EBITDA, which according to provisional figures is approximately 8% down on the previous year´s figure, of around EUR365 million is the second-best operating result in the over one hundred-year history of Klöckner & Co.
At approximately 10% above the fourth quarter of the previous year, EBITDA of around EUR77 million was generated in the fourth quarter with sales of around EUR1.5 billion. The one-off effects included in EBITDA for 2007 as a whole were roughly at the level of the previous year.
In light of the continuing excellent demand, Klöckner & Co recorded some clear price increases for a number of products since the beginning of 2008, especially also in the US. Taking into consideration the acquisitions and measures realized in the STAR performance program, the company is assuming that it will generate results at a high level in 2008.
Klöckner & Co will publish more detailed information and the final figures for the financial year 2007 on April 1, 2008. The data will be made available on the Internet at www.kloeckner.de at 8.00 am, CEST.
About Klöckner & Co AG:
Klöckner & Co is the largest independent producer and distributor of steel and metal products in the European and North American markets combined. The core business of the Klöckner & Co Group is the storage and distribution of steel and non-ferrous metals. About 200,000 active customers are supplied through approximately 250 distribution locations in 15 countries in Europe and North America.
Klöckner & Co was founded more than 100 years ago by Peter Klöckner. During the financial year 2006, the Company achieved sales of approximately EUR5.5 billion with around 10,000 employees.
The shares of Klöckner & Co Aktiengesellschaft are admitted to trading on the official market segment (Amtlicher Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with simultaneous admission to the sub-segment (Prime Standard) to the official market with further post-admission obligations. ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576. Klöckner & Co shares have been listed in the MDax® Index of Deutsche Börse since the end of January 2007.
Contact persons: Klöckner & Co AG Am Silberpalais 1 47057 Duisburg, Germany
Peter Ringsleben, Claudia Uhlendorf - Corporate Communications Peter Ringsleben Phone: +49-203-307-2800 Fax: +49-203-307-5060 E-mail: peter.ringsleben@kloeckner.de
Claudia Uhlendorf Phone: +49-203-307-2289 Fax: +49-203-307-5103 E-mail: claudia.uhlendorf@kloeckner.de
Claudia Nickolaus - Investor Relations
Claudia Nickolaus Phone: +49-203-307-2050 Fax: +49-203-307-5025 E-Mail: claudia.nickolaus@kloeckner.de
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Claudia Uhlendorf
Public Relations
Telefon: +49 (0)203 307 2289
E-Mail: claudia.uhlendorf@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Original-Content von: Klöckner & Co SE, übermittelt durch news aktuell