Service Centers

Klöckner: 2021's Results Best Since IPO in 2006

Written by David Schollaert

Klöckner & Co. SE posted record annual results for the year ended Dec. 31, 2021, delivering the highest fiscal-year operating income since its initial public offering in 2006. The company credited its 45% increase in sales to a “positive market environment.”


The Duisburg, Germany-based service center, which has significant operations in the U.S., anticipates further increases in steel demand in its core markets and considerable sales growth in 2022. It issued earnings guidance of €130-180 million ($143.3-198.4 million U.S.) for the first quarter.

Net income for fourth-quarter 2021 was €136 million ($149.9 million), nearly six times the total seen in the same year-ago quarter, on sales of €2.03 billion ($2.2 billion). For the year, the company swung to a profit of €629 million ($693.2 million) in 2021 after losing €114 million ($125.6 million) in 2020. Revenue in 2021 totaled €7.441 billion ($8.2 billion).

In the fourth quarter of 2021, shipments were 1.108 million tons, 6.9% lower than Q3’s 1.190 million tons, and 7.3% below the 1.195 million tons shipped in the fourth quarter of 2020.  For the year, shipments were 4.881 million tons, fractionally above 2020’s total of 4.873 million tons. Despite lower shipments sequentially, the slim year-on-year gain boosted profits due to an “exceptionally positive price trend” in the U.S. and Europe, Klöckner said.

“2021 was an extremely successful year in our corporate history,” said Guido Kerkhoff, Klöckner’s CEO. “We have built up distinct strengths and capabilities in recent years that we are now systematically leveraging to become the leading digital one-stop-shop platform for steel, other materials, equipment and processing services in Europe and the Americas as well as a pioneer for sustainability.”

Klöckner’s U.S. segment posted net earnings of $916.4 million in 2021, more than doubling the $372.4 million net results in 2020. For the year, U.S. sales were up 69% at $3.87 billion on shipments of 2.4 billion tons, a 2.5% increase year on year.

Klöckner’s digital sales also grew in 2021. The company’s digital assistant, kloeckner.i, which is driven by artificial intelligence, processed more than $1.1 billion in sales for the year. And XOM Materials, Klöckner’s electronic procurement platform, accounted for 80% of total product sales year-to-date, the company said.

Klöckner & Co is one of the largest producer-independent distributors of steel and metal products in the world with a distribution and service network of around 140 locations in 13 countries.

By David Schollaert,

David Schollaert

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