In the first quarter, the distributor's sales were almost flat at 1.21 million tonnes, compared with 1.26 million tonnes in the first quarter of 2022.
Revenue decreased 36% y-o-y to €2.1 billion ($2.3 billion), largely due to higher prices. Ebitda adjusted for special effects was €69 million, well below the previous year's €201 million. Operating income in the comparative period benefited significantly from favourable price effects, the company said.
According to the company, it has made a very good start to 2023 despite the continuing challenging environment and has made progress in the implementation of the group strategy in the first few months.
"Klöckner & Co generated strong operating income and significantly positive cash flow from operating activities in the first quarter despite the challenging environment," said Chief Executive Officer Guido Kerkhoff.
Another focus of the Group's strategy is the digitalisation and automation of Klöckner & Co's value chains. Sales realised by the Group's proprietary artificial intelligence solution Kloeckner Assistant remained at a strong level of over € 280 million in the first quarter.
For Q2, Klöckner forecasts Ebitda before significant special effects of €60-110 million and positive cash flow from operating activities.
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