Klöckner & Co achieved a result during the first half of 2008 that significantly exceeds market expectations, despite a cooling global economy. The preliminary operating result totals EUR 310 million, about EUR 115 million above the same figure last year of EUR 195 million.

Klockner said that the driving forces behind this increase of nearly 60% were mainly the successful transformation of price increases for steel products into higher gross margins and the contribution of acquired companies. The preliminary operating result for the second quarter is about EUR 200 million, nearly 100% above the previous year’s level of EUR 103 million.

Dr Thomas Ludwig CEO of Klöckner & Co AG said that "Following the extremely successful first half of 2008, we expect to achieve results during the second half of the year that will exceed last year’s level. For the entire year, we expect to generate an operating result that surpasses the present market expectation of about EUR 480 million.”