DUISBURG (dpa-AFX) - Klöckner & Co SE (KCO), a German steel and metal company, reported that its first quarter net income increased to 172 million euros from last year's 86 million euros. Earnings per share grew to 1.68 euros from 0.85 euros in the prior year.
Operating income (EBITDA), before material special effects, was 201 million euros up from 130 million euros in the prior year.
Quarterly sales increased around 60% year-over-year to 2.4 billion euros, due to the positive price trend.
The company expects stable to slightly increasing shipments in the second quarter compared with the first quarter of 2022.
Klöckner anticipates a considerable increase in sales in the second quarter of 2022 compared with the previous quarter. The company forecasts EBITDA of 180 million euros to 240 million euros before material special effects for the current second quarter as well as a strong and significantly positive cash flow from operating activities.
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