Klöckner : Interim Report Q2 2023

Q2

Interim Report

as of June 30, 2023

A N U N SER E AK T ION ÄRE

KO NZE RN LAGEB ER I CHT

KO NZE RN - U ND E INZ EL AB S CHLU SS

S ERV I CES

4 0

Klöckner & Co Group Figures

Interim Group Management Report

Klöckner & Co Group Figures

3

Interim Group Management Report

4

Klöckner & Co Share

30

Consolidated statement of income

33

Statement of comprehensive income Group

34

Consolidated statement of financial position

35

Consolidated statement of cash flows

37

Summary of changes in equity

38

Selected explanatory notes to the condensed interim consolidated

financial statements for the six-month period ending June 30, 2023..

39

Review report

55

Responsibility statement

56

I N T ER I M REPO RT HY1 2 02 3

F I NA N CIA L S TATE ME N T S

3

Klöckner & Co Group Figures

for the six-month period ending June 30, 2023

Shipments and income statement

Q2 2023

Q2 2022

Variance

HY1 2023

Shipments

Tto

1,158

1,226

- 68

2,371

Sales

€ million

1,967

2,580

- 613

4,043

Gross profit

€ million

335

508

- 173

692

Gross profit margin

%

17.0

19.7

- 2.7%p

17.1

Earnings before interest, taxes,

€ million

62

223

- 161

110

depreciation and amortization (EBITDA)

EBITDA before material special effects

€ million

63

222

- 159

131

EBITDA margin

%

3.2

8.6

- 5.4%p

2.7

EBITDA margin before material special

%

3.2

8.6

- 5.4%p

3.2

effects

Earnings before interest and taxes (EBIT)

€ million

32

191

- 159

45

Earnings before taxes (EBT)

€ million

24

188

- 164

27

EBT before material special effects

€ million

21

187

- 166

48

Net income

€ million

12

151

- 139

4

Net income attributable to shareholders of

€ million

12

149

- 137

4

Klöckner & Co SE

Earnings per share (basic)

€

0.12

1.50

- 1.38

0.04

Earnings per share (diluted)

€

0.12

1.36

- 1.24

0.05

HY1 2022

Variance

2,484

- 113

5,018

- 975

990

- 298

19.7 - 2.6%p

477

- 367

423

- 292

9.5 - 6.8%p

8.4 - 5.2%p

415

- 370

404

- 377

350

- 302

323

- 319

317 - 313

3.18 - 3.14

2.88

- 2.83

Cash flow statement

Q2 2023

Q2 2022

Variance

HY1 2023

Cash flow from operating activities

€ million

31

262

- 231

96

Cash flow from investing activities

€ million

- 25

- 20

- 5

- 33

Free cash flow*)

€ million

6

242

- 236

63

HY1 2022

Variance

1

95

19

- 52

20

43

Variance

Variance

June 30,

June 30,

June 30,

Dec. 31,

June 30,

2023 vs.

2023 vs.

Balance sheet

Dec. 31,

June 30,

2023

2022

2022

2022

2022

Net Working Capital**)

€ million

1,696

1,789

2,239

- 93

- 543

Net financial debt

€ million

596

584

903

12

- 307

Gearing***)

%

31.2

29.8

43.9

1.4%p

- 12.7%p

Equity

€ million

1,929

1,968

2,078

- 39

- 149

Equity ratio

%

50.4

51.0

44.5

- 0.6%p

5.9%p

Total assets

€ million

3,826

3,859

4,665

- 33

- 839

Employees

Employees as of the end of the reporting period

June 30,

Dec. 31,

June 30,

2023

2022

2022

7,230

7,304

7,228

Variance

Variance

June 30,

June 30,

2023 vs.

2023 vs.

Dec. 31,

June 30,

2022

2022

- 74

2

*) Free cash flow = Cash flow from operating activities + cash flow from investing activities.

**) Net working capital = Inventories + trade receivables + contract assets + supplier bonus receivables ./. trade liabilities ./. contract liabilities ./. advance payments received.

***) Gearing = Net financial debt / (Consolidated equity ./. non-controlling interests ./. goodwill resulting from acquisitions subsequent to May 23, 2019).

I N T ER I M REPO RT HY1 2 02 3

F I NA N CIA L S TATE ME N T S

4

Interim Group Management Report

Key developments in the first six months of 2023 and outlook

*) The forecast for the full year 2023 has been prepared assuming the closing of the acquisition of National Material of Mexico on August 1, 2023.

I N T ER I M REPO RT HY1 2 02 3

F I NA N CIA L S TATE ME N T S

5

Our strategy - "Klöckner&Co 2025: Leveraging Strengths"

[In implementing our "Klöckner & Co 2025: Leveraging Strengths" strategy, we focus primarily on four levers: Customer Growth, Leveraging Assets & Partner Network, Digitalization & Value Chain Automation, and Operational Excellence. With our strategy, we are building on the strengths we have created in recent years and leveraging them to take the next evolutionary step, leading Klöckner & Co into a successful future.

We aim to generate added value for all of our Company's stakeholders. And we want customers and business partners to benefit from seamlessly integrated, digitalized and automated processes. For employees, we aim to foster a culture of empowerment and collaboration, upskilling them for the future and enabling them to grow and develop. For shareholders, our focus on a higher level of profitability also means a focus on the sustainable financial success of their investment in Klöckner & Co. Furthermore, we strive to make a positive impact on society and the environment.

We aim to establish Klöckner & Co as the leading one-stop shop for steel, other materials, equipment and processing services in Europe and the Americas, to bring the digital and the physical sides of our business closer together and to continuously improve our internal and external networks. Inefficiencies in low-margin steel and metal distribution are still primarily caused by linear supply chains and lack of transparency. By integrating third parties while both digitalizing and automating core processes, we can eliminate existing inefficiencies in the value chain and significantly reduce our variable costs.

The information contained in square brackets [ ] in this Management Report represents unreviewed and voluntary disclosures that have been read critically by the auditor.

CUSTOMER

GROWTH

DIGITALIZATION &

OPERATIONAL

VALUE CHAIN

EXCELLENCE

AUTOMATION

LEVERAGING

ASSETS & PARTNER

NETWORK

Attachments

Disclaimer

Klöckner & Co. SE published this content on 02 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2023 05:07:10 UTC.