Worthington Steel moves closer to complete Klöckner takeover

Monday, 01 June 2026 14:13:16 (GMT+3)   |   Istanbul

Klöckner & Co., a Germany-based producer and distributor of steel and non-ferrous metals, has announced its financial results for the first quarter of this year.

In the given quarter, the company registered a net loss of €4 million, compared to a net loss of €28 million in the first quarter of 2025, while its sales revenue came to €1.57 billion, declining by 5.9 percent year on year, mainly due to lower shipments. In addition, Klöckner & Co.’s EBITDA came to €41 million, compared to €17 million in the same quarter last year.

Furthermore, the company’s steel shipments in the first quarter dropped to 1.10 million mt, compared to 1.17 million mt recorded in the given quarter of the previous year.

For the second quarter of 2026, Klöckner stated that it expects a slight increase in shipments and a considerable increase in sales compared to the preceding quarter. Regarding the takeover bid by US-based steelmaker Worthington Steel, the company emphasized that at the end of the additional acceptance period, Worthington Steel had secured roughly 61.87 percent of all outstanding Klöckner shares. Shortly after the first acceptance period ended, Worthington Steel announced its intention to enter into a domination and profit and loss transfer agreement. The closing of the transaction is subject to the pending regulatory approvals and is expected for the second half of 2026.

ElifKefeli
Elif Kefeli
Editor

I graduated from Yeditepe University’s Department of Translation and Interpreting Studies in 2017. I joined SteelOrbis in 2021, where I currently work as a content specialist. I am writing news reports and industry-related content with a special focus on decarbonization, green steel, sustainability, and recycling.


Similar articles

Sandvik posts record Q2 revenues amid strong mining demand in 2026

27 Jul | Steel News

Acerinox's Q2 profit jumps as US business, EU trade measures boost results

27 Jul | Steel News

Interpipe urges Ukraine to protect steel exporters' access to foreign markets

27 Jul | Steel News

Major steel and raw material futures prices in China - July 27, 2026

27 Jul | Longs and Billet

Hyundai Steel to break ground on $5.8 billion Louisiana EAF mill in September

27 Jul | Steel News

Taiwan's CSC posts slightly lower operating revenues for H1 2026

27 Jul | Steel News

Kardemir wins Algerian railway wheel supply tender

27 Jul | Steel News

SAIL doubles its consolidated net profit in Q1 FY 2026-27

27 Jul | Steel News

India's Jindal Steel sees consolidated net profit fall 44% in Q1 FY 2026-27

27 Jul | Steel News

Chinese steel enterprises' gross profit totals RMB 31.77 billion in H1 2026

27 Jul | Steel News