Klöckner & Co. SE : Q2 results short of expectations
>Q2 2024: sales of € 1,765m (vs € 1.8bn est.) – EBITDA of € 42m (vs € 50m est.) - For its Q2 2024, Klöckner published results this morning that were below our expectations. After Q1 down 5.6%, Q2 sales came to € 1,765m (vs € 1.8bn est.), i.e. slight growth of 0.6%, composed of a volume effect of 11.5% and a price effect of -10.9%. The price decline continued throughout the half-year (-34% ytd in the US and -16% ytd in Europe). The gross margin held up well in Q2 at 1...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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