Klöckner & Co. SE : 2023 results in line, strategic refocusing on high-potential zones
>2023 sales of € 7bn (vs € 7.7bn est.) – EBITDA of € 190m (vs € 180m est.) - Klöckner’s 2023 results, reported yesterday, were broadly in line with our expectations: i/ sales came to € 7bn, or negative growth of 16.6%, mainly due to lower prices, ii/ EBITDA came to € 190m (vs € 180m est.) or a margin of 2.7%, down 240bp (no more windfall effect related to prices) and iii/ net income came to -€1m (-€ 190m if we include the losses related to discontinued operations, IFR...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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