Kloeckner sets profit goal, sees slight shipment decline in 2026

Worthington Steel

05/08/2026 06:00

Aug 5 (Reuters) - German steel distributor Kloeckner & Co KCOGn.DE on Wednesday reported a second-quarter core profit before material special effects within its previously guided range and set a full-year target of €170 million to €250 million ($196 million to $288 million) for the same metric.
However, the company now expects a slight decline in full-year shipments due to the challenging macroeconomic environment marked by heightened geopolitical uncertainties, it said in a statement.
It had previously expected 2026 shipments to remain stable, despite completing the divestment of eight U.S. distribution centers at the end of last year.
The results came as Worthington Steel WS.N proceeds with its takeover of the company.
Acceptance period for the €11.00 per share offer is to end on August 12, with delisting expected to take effect thereafter.
Q2 EBITDA before material special effects stood at €63 million, compared with the guided range of €40 million to €80 million.
Affected by a €151 million impairment charge from its Becker Group divestment, the steel distributor reported a quarterly net loss of €268 million.
Kloeckner sees a slight rise in full-year sales volume, driven by higher average prices.
($1 = 0.8681 euros)

(Reporting by Mirko Miorelli, editing by Milla Nissi-Prussak)
((Mirko.Miorelli@thomsonreuters.com;))