Klöckner & Co SE: Turnover and Sales up on Prior-Year Period

Klöckner & Co SE: Turnover and Sales up on Prior-Year Period PR Newswire DUISBURG, Germany, November 7, 2012 DUISBURG, Germany, November 7, 2012 /PRNewswire/ -- - Earnings trend affected by economic slowdown and ongoing price erosion. Restructuring program continuing to plan and significantly further expanded. Full-year EBITDA forecast of EUR130-140 million before restructuring - Turnover in the first nine months increased by 9.1% to 5.5 million tons and sales by 7.4% to some EUR5.8 billion through acquisitions and strong organic growth in the USA - EBITDA for the year to date at EUR117 million (including restructuring expenses: EUR97 million), compared with EUR203 million in first nine months of 2011 - Net income at a negative EUR33 million (including restructuring expenses and impairments: negative EUR 76 million), as against EUR38 million in the previous year - Earnings per share at minus EUR 0.75, compared with EUR0.47 in the prior-year period - Restructuring measures significantly expanded with reduction of approximately 60 locations and in the workforce by over 1,800; annual EBITDA contribution expected to be around EUR150 million - Q4 EBITDA before restructuring expenses expected to be around third-quarter level, with a strong positive cash flow - For the current year as a whole, turnover expected to increase by about 6.