DUISBURG (dpa-AFX) - German steel maker Kloeckner & Co SE (KLKNF) reported Tuesday that its first-quarter consolidated loss was 32 million euros. Loss per share was 0.33 euro, compared to loss of 0.08 euro in the prior year.
In March 2024, the company completed the sale of parts of its European distribution business.
On a continuing operations basis, loss was 8 million euros in the first quarter, compared to profit of 24 million euros a year ago. Loss per share from continuing operations was 0.08 euro, compared to profit of 0.23 euro last year.
Adjusted EBITDA was 42 million euros, lower than last year's 65 million euros.
Sales declined to 1.7 billion euros in the first quarter from last year's 1.8 billion euros due to price movements, amid the persistently challenging macroeconomic environment.
Total shipments, however, increased 5% from last year and amounted to 1.1 million metric tons.
Looking ahead for the second quarter, the company expects a considerable increase in shipments and sales compared to the preceding quarter.
EBITDA before material special effects is projected to be 30 million euros to 70 million euros for this period.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX