Germany’s Klöckner & Co. reported an 8.1% year-on-year increase in steel and metal product shipments, reaching 2.3 million metric tons in the first half of 2024. This growth was driven by acquisitions in the second half of 2023, particularly of New Jersey-based Amerinox Processing, which boosted shipments in the US and Mexico.
Despite the rise in shipments, sales fell by 2.6% to €3.5 billion due to lower prices, contributing to a 37% drop in EBITDA to €83 million. The company expects full-year EBITDA to be €120 million, down from €180 million in 2023, citing weaker-than-expected demand in Europe.
Klöckner anticipates a slight increase in shipments for the full year but foresees a decline in sales due to lower steel prices. CEO Guido Kerkhoff highlighted the strategic progress made, particularly with the Amerinox acquisition, which expanded the company’s range of higher value-added products and services.
