Higher Steel Prices, Solid Demand To Boost Kloeckner & Co Profit

Time: 2019-03-12

German steel trader Kloeckner & Co (KCOGn.DE) on Tuesday said it expects higher sales and core earnings this year, lifted by an increase in prices and an uptick in demand it forecast for its key markets Europe and the United States.

Sales are expected to increase significantly from the 6.8 billion euros ($7.7 billion) in 2018, along with a slight increase in earnings before interest, tax, depreciation and amortization (EBITDA), which stood at 227 million last year.

According to a Reuters poll of banks and brokerages, sales in 2019 are seen down 4 percent, while EBITDA is expected to decline by a quarter.

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