Klöckner loss widens in Q1 but sees brighter quarter ahead

Klöckner & Co. logged a wider net loss in the first quarter vs. Q1 last year, but the Duisburg, Germany-based service center group expects higher shipments and sales in the current quarter.

The company’s net loss attributable to its shareholders widened to €33 million (US$35 million) in the quarter ended March 31, compared with an €8 million loss a year earlier on sales that fell 6% to €1.74 billion (US$1.87 billion).

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.