Klöckner & Co. SE : Q3 2024 results miss our expectations
>Q3 revenues at € 1,646m (vs € 1,740m est.), down 6.3% - Klöckner reported yesterday evening Q3 results below our expectations. Over the quarter, group revenues came in at € 1,646m (vs € 1,740m est.), down 6.3% including: i/ a negative price effect of 9.1% et ii/ a positive volume effect of 2.8%. The gross margin stood at € 15.9% (-70pb QoQ), naturally down due to lower prices QoQ. EBITDA stood at € 21m, at the lower end of range announced by management (€ 20-60m), i...Klockner & Co is a holding company. Co. is engaged in the mill-independent distributor of steel and metal products and steel service center in the combined European and American market. Co.'s core business is the distribution of steel and non-ferrous metals as well as the operation of steel service centers. Co. concentrated mainly in the construction industry as well as the machinery and mechanical engineering industries. Co. also supplies intermediate products for the automotive, shipbuilding, and consumer goods industries, and provides customers solution from procurement through logistics to prefabrication, including individual deliveries and 24-hour service.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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