Kloeckner sets profit goal, sees slight shipment decline in 2026

Aug. 5 (Reuters) - German steel distributor Kloeckner & Co on Wednesday reported a second-quarter core profit before material special effects within its previously guided range and set a full-year target of €170 million to €250 million ($196 million to $288 million) for the same metric.

However, the company now expects a slight decline in full-year shipments due to the challenging macroeconomic environment marked by heightened geopolitical uncertainties, it said in a statement.

It had previously expected 2026 shipments to remain stable, despite completing the divestment of eight U.S. distribution centers at the end of last year.

• The results came as Worthington Steel proceeds with its takeover of the company.
• Acceptance period for the €11.00 per share offer is to end on August 12, with delisting expected to take effect thereafter.
• Q2 EBITDA before material special effects stood at €63 million, compared with the guided range of €40 million to €80 million.
• Affected by a €151 million impairment charge from its Becker Group divestment, the steel distributor reported a quarterly net loss of €268 million.
• Kloeckner sees a slight rise in full-year sales volume, driven by higher average prices.

($1 = 0.8681 euros)