Brief: Kloeckner & Co SE Ebitda Of EUR 69 MLN in Q1 OF 2023

Kloeckner & Co SE

03/05/2023 06:09

May 3 (Reuters) - KLOECKNER & CO SE  KCOGn.DE :
    * OPERATING INCOME (EBITDA) OF EUR 69 MILLION BEFORE
MATERIAL
SPECIAL EFFECTS CONSIDERABLY HIGHER IN Q1 OF 2023 THAN IN
PRECEDING QUARTER (Q4 2022: EUR - 22 MILLION)
    * Q1 - SIGNIFICANT POSITIVE CASH FLOW FROM OPERATING
ACTIVITIES OF
EUR 64 MILLION (Q1 2022: EUR - 261 MILLION)
    * Q1 - EBITDA BEFORE MATERIAL SPECIAL EFFECTS OF EUR 60
MILLION TO
EUR 110 MILLION IN Q2 EXPECTED
    * KLÖCKNER & CO'S SALES IN Q1 OF 2023 WERE EUR 2.1 BILLION
AS A
RESULT OF LOWER OVERALL PRICE LEVEL (Q1 2022: EUR 2.4 BILLION).
    * NET WORKING CAPITAL DECREASED RELATIVE TO MARCH 31, 2022,
FROM
EUR 2.3 BILLION TO EUR 1.7 BILLION.
    * ALTHOUGH ECONOMIC ENVIRONMENT IS EXPECTED TO REMAIN
CHALLENGING,
MACROECONOMIC CONDITIONS HAVE FURTHER IMPROVED COMPARED TO
SECOND HALF OF 2022.
    * FORECAST - EBITDA BEFORE MATERIAL SPECIAL EFFECTS OF EUR
60
MILLION TO EUR 110 MILLION AND A POSITIVE CASH FLOW FROM
OPERATING ACTIVITIES FOR Q2
    * SALES HANDLED BY KLOECKNER ASSISTANT, GROUP'S PROPRIETARY
AI
SOLUTION, REMAINED AT A STRONG LEVEL AT OVER EUR 280 MILLION IN
Q1 OF 2023
    * Q1 - KLÖCKNER & CO IS NOW ABLE TO CALCULATE PRODUCT CARBON
FOOTPRINT (PCF) FOR ALMOST ALL OF ITS APPROXIMATELY 200,000
PRODUCTS
    * Q1 - NET INCOME WAS EUR - 8 MILLION (Q1 2022: EUR 172
MILLION).
EARNINGS PER SHARE CONSEQUENTLY CAME TO EUR -- 0.08 (Q1 2022:
EUR 1.68)
    * Q1 -NET WORKING CAPITAL DECREASED RELATIVE TO MARCH 31,
2022,
FROM EUR 2.3 BILLION TO EUR 1.7 BILLION.
    * Q1 - AFTER EUR 8 MILLION IN PAYMENTS FOR CAPITAL
EXPENDITURE,
FREE CASH FLOW AMOUNTED TO EUR 56 MILLION IN FIRST THREE MONTHS
OF YEAR, COMPARED TO A NEGATIVE FREE CASH FLOW OF EUR 222
MILLION IN Q1 OF 2022.

Source text for Eikon:  ID:nEQ9FlnmDa 
Further company coverage:  KCOGn.DE 

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