Strong Q1 figures, Q2 guidance lift Kloeckner shares

Kloeckner & Co SE

04/05/2022 07:15

** Shares in Kloeckner  KCOGn.DE  rise 3.3% in early
Frankfurt trade after the German metals trader's Q1 final
results, Q2 guidance surpass expectations helped by
pricing urn:newsml:reuters.com:*:nL5N2WW1BR
    ** The company's net income for the quarter doubled
year-on-year to EUR 172 million  ($180.88 million), with Q1
sales almost doubling as well to around EUR 390 million
    ** A local trader notes that the company gave another strong
outlook on its Q2 earnings with its final Q1 numbers
    ** "Kloeckner's profitability continues to surpass consensus
expectations and we expect shares to outperform this morning,"
Jefferies says, noting the company's Q2 EBITDA guidance is 62%
ahead of company compiled consensus of EUR 130 million
    ** Kloeckner expects EBITDA before material special effects
of EUR 180 million to 240 million and "strong and significantly
positive" cash flow from operating activities in Q2
    ** At the beginning of April the group had pre-released Q1
EBITDA before material special effects of EUR 201 million, a
beat against its own forecast of EUR 130-180 million
 urn:newsml:reuters.com:*:nFWN2W50W0


($1 = 0.9509 euros)

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))