Good 1Q18, FY18 outlook slightly increased
Kloeckner’s 1Q18 results showed volume was stable yoy at 1,584kt with a robust market in the USA offsetting a softer European market and the effect of the disposal of the Spanish activities last year. Sales edged up by 1.6% yoy as the average steel price increase compensated for the lower USD, with Americas representing 37% of total sales.
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.
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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