DUISBURG (dpa-AFX) - Klöckner & Co SE (KCO), a German steel and metal company, reported that its net income for fiscal year 2021 was 629 million euros, compared to a net loss of 114 million euros in the prior year. Earnings per share were 6.21 euros compared to a loss per share of 1.16 euros last year.
Operating income (EBITDA) before material special effects increased to 848 million euros from 111 million euros in the prior year.
Annual sales rose 45% year-over-year to 7.4 billion euros.
The company noted that its board will propose a high dividend of 1.00 euros per share to shareholders at the Annual General Meeting.
The company expects a further increase in steel demand this year in its core markets of Europe and North America.
The company already expects to see considerable sales growth in the first quarter of 2022 compared to the prior-year quarter. The company confirmed operating income (EBITDA), before material special effects, guidance in a range of 130 million euros -180 million euros.
Additionally, the company anticipates positive material special effects in the amount of 54 million euros in the initial quarter of 2022 from sales of properties in Switzerland and France.
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