Alle Storys
Folgen
Keine Story von Klöckner & Co AG mehr verpassen.

Klöckner & Co AG

Klöckner & Co: Second Annual General Meeting since IPO

Duisburg (euro adhoc) -

•	Forecast for current fiscal year to be raised
•	Conversion into European company (SE)
•	Stable dividend
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
stock market/Annual General Meeting
Duisburg, June 20, 2008 - At today´s Annual
General Meeting of Klöckner & Co AG, the Chairman of the Management 
Board, Dr. Thomas Ludwig, will raise the company´s business forecast 
for the current fiscal year: Klöckner & Co projects at least 10 
percent higher sales for the entire year of 2008 compared with the 
previous year. EBITDA is forecasted to exceed current market 
expectations of about EUR 470 million, with a substantial increase in
net profit for the period. Aside from favorable market developments 
and massive price increases, this success can be attributed to the 
company´s business strategy. "Our strategy based on acquisitions, 
organic growth and business process optimization through the STAR 
program will remain the focus of our activities in 2008. As a result,
it will contribute to the continued improvement of our business 
results," Dr. Thomas Ludwig said.
At the Annual General Meeting, the Management and Supervisory Boards 
will present resolutions on important issues to stockholders, 
including the conversion of the company into a European company (SE) 
and the company´s dividend disbursement. "The conversion into an SE 
marks another step in our company´s evolution into a European 
organization. The legal form of SE underscores the special 
significance of the European market for the Klöckner & Co Group and 
is an expression of a modern, entrepreneurial Europe," Dr. Thomas 
Ludwig noted.
The company will propose a dividend payment of 80 euro cents per 
share to the Annual General Meeting. The size of the dividend 
corresponds to a payout ratio of 30 percent of the consolidated net 
profit allocable to shareholders of Klöckner & Co AG after special 
effects. "Klöckner & Co´s commitment to maintain this dividend policy
in the future is a testament to the company´s payout continuity and 
also makes its share an attractive investment in terms of dividend 
yield," Dr. Thomas Ludwig said.
About Klöckner & Co: Klöckner & Co is the largest 
producer-independent distributor of steel and metal products in the 
European and North American markets combined. The core business of 
the Klöckner & Co Group is the storage and distribution of steel and 
non-ferrous metals. About 210,000 active customers are supplied 
through more than 260 distribution locations in 15 countries in 
Europe and North America. During the financial year 2007, the Company
achieved sales of approximately EUR6.3 billion with more than 10,000 
employees.
The shares of Klöckner & Co Aktiengesellschaft are admitted to 
trading on the official market segment (Amtlicher Markt) of the 
Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with 
simultaneous admission to the sub-segment (Prime Standard) to the 
official market with further post-admission obligations. ISIN: 
DE000KC01000; WKN: KC0100; Common Code: 025808576. Klöckner & Co 
shares are listed in the MDax® Index of Deutsche Börse.
Contact persons:
Peter Ringsleben, Claudia Uhlendorf - Corporate Communications
Peter Ringsleben
Phone: +49-203-307-2800
Fax: +49-203-307-5060
E-mail:  peter.ringsleben@kloeckner.de
Claudia Uhlendorf
Phone: +49-203-307-2289
Fax: +49-203-307-5103
E-mail:  claudia.uhlendorf@kloeckner.de
Claudia Nickolaus - Investor Relations
Phone: +49-203-307-2050
Fax: +49-203-307-5025
E-Mail:  claudia.nickolaus@kloeckner.de
end of announcement                               euro adhoc

Further inquiry note:

Claudia Uhlendorf
Phone: +49-203-307-2289
Fax: +49-203-307-5103
E-mail: claudia.uhlendorf@kloeckner.de

Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

Weitere Storys: Klöckner & Co AG
Weitere Storys: Klöckner & Co AG