Klöckner swings to Q2 loss, sees '24 sales decline on weak steel tags

Klöckner & Co. swung to a loss in the second quarter. And the company expects a decline in sales for 2024 because of the drop in steel prices.

The Duisburg, Germany-based service center group reported a net loss (attributable to shareholders of continuing operations) of €23 million (USD$25.2 million) in the quarter ended June 30 vs. net income of €12 million a year earlier on sales that increased 0.6% to €1.77 billion (USD$1.94 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.

Ethan Bernard

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