Klöckner & Co., a Germany-based producer and distributor of steel and non-ferrous metals, has stated in its financial report for the second quarter and the first half of this year that it has moved forward with its business combination with US-based Worthington Steel. The companies aim to strengthen Klöckner's strategic focus on higher value-added products and services and lay the foundation for profitable growth in North America and Europe.
To this end, Worthington Steel completed its voluntary public takeover bid on June 3, 2026, and currently holds approximately 62 percent of Klöckner's outstanding shares. Meanwhile, Worthington Steel's delisting acquisition offer is expected to end on August 12, 2026, with Klöckner's delisting expected to take effect immediately after the expiry of the acceptance period.
In the second quarter, the company registered a net loss of €268 million, compared to a net profit of €2 million in the same quarter of 2025, while its sales revenue came to €1.69 billion, increasing by three percent year on year. The company's net result was significantly affected by an impairment charge related to the Becker Group. In addition, Klöckner's EBITDA for the second quarter came to a negative €108 million, compared to €63 million in the same quarter last year.
In the given quarter, the company's steel shipments decreased by 4.2 percent year on year to 1.12 million mt. Adjusted for the disposal of eight US distribution sites at the end of 2025, shipments increased by 3.2 percent.
In the first half, Klöckner's net loss amounted to €272 million, compared to a net loss of €26 million in the first half of the previous year, while its sales revenue fell by 1.5 percent year on year to €3.26 billion. Additionally, the company's EBITDA for the first six months of the year came to a negative €67 million, compared to €81 million in the January-June period of 2025.
In the given period, Klöckner's steel shipments decreased by 5.3 percent year on year to 2.21 million mt.
“We considerably increased our operating income before material special effects compared with the preceding quarter, demonstrating that our business remains resilient even in a challenging market environment. With our business combination with Worthington Steel, we are opening a new chapter in our company's history and laying the foundation for future profitable growth in North America and Europe,” Guido Kerkhoff, CEO of Klöckner & Co., stated.