Cyrrus (Cyrrus)
World markets  |  August 08, 2012 09:30:39

Kloeckner fell behind in 2Q estimates


For Kloeckner 2Q 2012 revenues reached at 1.96 billion (vs. expectations of 1.97 billion) and EBITDA EUR 33 million (vs. expectations of 48.9 billion euros). Net loss was deeper than the market expected, and EUR 37.7 million (vs. market estimated 10.1 million euros). The figures clearly illustrate the pressure on margins, which currently has steelmakers and traders in steel demand due to low face. Ma agement view leaves reach the level of sales, but margins decline because of abandoning its goal to achieve at the level of EBITDA last year. Due to worsening economic conditions Kloeckner considering to lay off 1,300 employees instead of the previously considered by the 700th

George SIMAR

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Kloeckner ve 2Q zaostal za odhady

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