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Klöckner & Co announces Q3 result

Steel News - Published on Thu, 25 Oct 2018

Image Source: wikimedia
Klöckner & Co SE maintained its positive earnings trend through the third quarter of 2018. Mainly benefiting from the positive market trend in the USA, operating income (EBITDA) improved very substantially to EUR 59 million (Q3 2017: EUR 47 million), within the projected range of EUR 55 million to EUR 65 million. Net income went up from EUR 13 million to EUR 22 million. Earnings per share consequently amounted to EUR 0.22 (Q3 2017: EUR 0.12). The proportion of sales generated through digital channels further increased to 23% as of the end of the quarter (Q3 2017: 16%). Additional vendors have been secured both for the Klöckner online shops with marketplace functionality and for the independent industry platform, XOM Materials. As a result, some 20 third-party vendors are now marketing their products via platforms launched by Klöckner & Co.

Mr Gisbert Rühl CEO of Klöckner & Co SE said that “With the development and operation of web-based platforms, we are building a business that has the potential to revolutionize steel distribution and associated activities.”

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Posted By : Nanda Koijam on Thu, 25 Oct 2018
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