euro adhoc: Klöckner & Co AG
Earnings
Klöckner & Co AG: Business Development
better than expected
Klöckner & Co boosts operating result by 60 percent in first half of 2008 over
last year, preliminary results show
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
preliminary results
07.07.2008
Duisburg, July 7, 2008 - Despite a cooling global economy, Klöckner & Co achieved a result during the first half of 2008 that significantly exceeds market expectations, preliminary figures show. The preliminary operating result (Earnings before interest, taxes, depreciations and amortizations; EBITDA) totals EUR310 million, about EUR115 million above the same figure last year of EUR195 million.
The driving forces behind this increase of nearly 60 percent were mainly the successful transformation of price increases for steel products into higher gross margins and the contribution of acquired companies. The preliminary operating result (EBITDA) for the second quarter is about EUR200 million, nearly 100 percent above the previous year´s level of EUR103 million. For the entire year, Klöckner & Co expects to generate an operating result (EBITDA) that surpasses the present market expectation of about EUR480 million.
The company´s interim report for the second quarter and the first half-year 2008 will be released on August 14, 2008 on www.kloeckner.de.
Issuer: Klöckner & Co Aktiengesellschaft, Am Silberpalais 1, D 47057 Duisburg ISIN: DE000KC01000; WKN: KCO0100 Listed: Amtlicher Markt / Prime Standard; Frankfurter Wertpapierbörse Further information can be obtained on the webpage of Klöckner & Co: www.kloeckner.de
end of announcement euro adhoc
Further inquiry note:
Peter Ringsleben - Corporate Communications
Phone: +49-203-307-2800
E-mail: peter.ringsleben@kloeckner.de
Claudia Uhlendorf - Corporate Communications
Phone: +49-203-307-2289
E-mail: claudia.uhlendorf@kloeckner.de
Claudia Nickolaus, Investor Relations
Phone: +49-203-307-2050
E-Mail: claudia.nickolaus@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade