Kloeckner & CO - FY17 outlook only confirmed despite sound 3Q17
German steel distributor, Kloeckner&Co (KCO), reported overall sound 3Q17 results. Revenue increased by 9.4% yoy supported by higher steel price and reported volumes up by 2.6% yoy (5.2% excluding the sale of Spanish activities) both in Europe (64% of 3Q17 sales) and the US (36%). Reported EBITDA of €47m was slightly higher than the company’s guidance of €35-45m and the profitability decline from €71m last year was due to margin contraction in Europe.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.