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RS - Reliance Steel & Aluminum Co News Story

$173.62 -2.1  -1.2%

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Basic Materials
Large Cap
Market Cap £7.93bn
Enterprise Value £8.56bn
Revenue £6.43bn
Position in Universe 879th / 6853

Kloeckner & Co expects 2018 profits to remain at least stable

Wed 28th February, 2018 6:00am
FRANKFURT, Feb 28 (Reuters) - German steel distributor 
Kloeckner & Co  KCOGn.DE  on Wednesday forecast operating profit 
to remain at least flat this year, adding there was upside to 
its outlook if steel prices improved further. 
    Sales are expected to rise slightly in 2018, the company, 
which competes with Thyssenkrupp  TKAG.DE , Salzgitter  SZGG.DE  
and U.S.-listed Reliance Steel & Aluminum  RS.N , said, helped 
by higher steel demand in Europe and the United States. 
    Analysts polled by Reuters, on average, expect Kloeckner & 
Co's earnings before interest, tax, depreciation and 
amortisation (EBITDA) to come to 220 million euros ($269.26 
million) this year, unchanged from 2017. 
    Sales are expected to reach 6.19 billion euros in 2018, 
according to analyst estimates, up from 6.14 billion in 2017. 
    The group said it would propose a dividend of 0.30 euros per 
share for 2017, up 50 percent from the 0.20 euros per share it 
paid for the previous year. 
($1 = 0.8171 euros) 
 (Reporting by Christoph Steitz 
Editing by Maria Sheahan) 
 ((; +49 69 7565 1269; 
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