Klöckner & Co., a Germany-based producer and distributor of steel and non-ferrous metals, has announced its financial results for the fourth quarter and the full year of 2024.
In the given quarter, the company registered a net loss of €91 million, compared to a net loss of €182 million in the fourth quarter of 2023, while its sales revenues declined by 7.6 percent year on year to €1.48 billion. In addition, Klöckner & Co.’s EBITDA in the fourth quarter came to €16 million, compared to €12 million in the same quarter of the previous year.
In 2024, the company recorded a net loss of €176 million, compared to a net loss of €190 million in 2023, while its sales revenues decreased by 4.7 percent year on year to €6.63 billion, due to a decline in steel prices in the US and Europe. Also, Klöckner’s EBITDA in the given year dropped by 42.6 percent from the previous year to €109 million.
Furthermore, the company’s steel shipments in 2024 reached 4.5 million mt, compared to 4.2 million mt recorded in the previous year.
Klöckner expects that demand will increase in its sales markets such as Europe and North America this year. It also forecasts that its sales and turnover will increase considerably compared to the previous year.