09.12.2015
Klöckner & Co. SE DE000KC01000
DGAP-Adhoc: Klöckner & Co SE impairs Goodwill
Klöckner & Co. SE / Key word(s): Miscellaneous
09.12.2015 18:48
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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After the market environment for steel and metal products in the US has
once again developed worse than generally expected in the current year,
Klöckner & Co SE recognizes impairments on the complete goodwill of the
North American activities of around EUR270 million. As such by the end of
the current year - with equity standing at around EUR1 billion - remaining
goodwill in the group balance sheet of Klöckner & Co SE is expected to be
around EUR30 million. Including restructuring expenses in Europe and tax
assessments to be finalized in the context of the goodwill impairment, from
today's point of view a negative group net income of overall EUR350 to
EUR380 million is expected for 2015.
The forecasts for the current year of an operating income (EBITDA) before
restructuring expenses of up to EUR85m and a positive free cash flow are
confirmed. In the following year a significant increase in EBITDA and a
positive group net income are expected.
The complete annual report as of December 31, 2015 containing the final
figures will be published on March 1, 2016.
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Information and Explaination of the Issuer to this News:
Issuer: Klöckner & Co SE, Am Silberpalais 1, 47057 Duisburg, Germany
The shares of Klöckner & Co SE are admitted to trading on the regulated
market segment (Regulierter Markt) of the Frankfurt Stock Exchange
(Frankfurter Wertpapierbörse) with further post-admission obligations
(Prime Standard). Klöckner & Co shares are listed in the MDAX(R)-Index of
Deutsche Börse.
ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.
Contact person Klöckner & Co SE:
Christian Pokropp - Press Spokesperson
Head of Investor Relations & Corporate Communications
Telephone: +49 (0) 203-307-2050
Fax: +49 (0) 203-307-5025
Email: [email protected]
09.12.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Klöckner & Co. SE
Am Silberpalais 1
47057 Duisburg
Germany
Phone: +49 (0)203 / 307-0
Fax: +49 (0)203 / 307-5000
E-mail: [email protected]
Internet: www.kloeckner.com
ISIN: DE000KC01000
WKN: KC0100
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of Announcement DGAP News-Service
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