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    Distributors/Service Centers

    August 10, 2021

    Klöckner Sees Record-Setting Profits Thanks to Surging Sales, Prices

    Written by David Schollaert

    Klöckner & Co. SE posted its best quarterly results since its stock launch more than 15 years ago. The company attributed its record-setting second-quarter results to the surge in steel prices, a 60% increase in sales and a strong performance from its digital operations.

    The Duisburg, Germany-based service center, which has significant operations in the U.S. (known as Kloeckner), expects even better results in the third quarter and has issued record-breaking earnings guidance of between €650-700 million ($762-821 million) for the full year.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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