Klöckner & Co Demonstrates Financial Resilience and Strategic Focus in 2023 Results

Klöckner & Co SE reported a solid operating income for 2023 despite the challenging economic conditions. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) before material special effects stood at €190 million, down from €355 million in 2022. This decline was primarily attributed to a price-driven decrease in sales, which fell to €7.0 billion from €8.3 billion the previous year.

The company also strengthened its position in North America through strategic acquisitions and completed the sale of its operations in France, the United Kingdom, the Netherlands, and Belgium. Additionally, Klöckner & Co expanded its Nexigen® product and service portfolio, enhancing its sustainability efforts and carbon emissions management capabilities.

Despite the net loss of €190 million, including discontinued operations, Klöckner & Co maintained a solid equity ratio of 45% and announced a dividend of €0.20 per share. The company's focus on attractive business areas and core markets, particularly in North America and select European regions, positions it for future growth. Klöckner & Co forecasts a considerable year-on-year increase in EBITDA for 2024, with the first quarter expected to show a significant improvement.