Klöckner & Co - Mid Caps Conference 2013

37
Klöckner & Co SE A Leading Multi Metal Distributor Société Générale Mid Caps Conference CFO Marcus A. Ketter May 30, 2013 Nice

description

May 30, 2013 in Nice

Transcript of Klöckner & Co - Mid Caps Conference 2013

Page 1: Klöckner & Co - Mid Caps Conference 2013

Klöckner & Co SEA Leading Multi Metal Distributor

Société GénéraleMid Caps Conference CFO

Marcus A. Ketter

May 30, 2013

Nice

Page 2: Klöckner & Co - Mid Caps Conference 2013

Disclaimer

This presentation contains forward-looking statements which reflect the current views of the management of Klöckner & Co SE with respect to future events. They generally are designated by the words “expect”, “assume”, “presume”, “intend”, “estimate”, “strive for”, “aim for”, “plan”, “will”, “strive”, “outlook” and comparable expressions and generally contain information that relates to expectations or goals for economic conditions, sales proceeds or other yardsticks for the success of the enterprise. Forward-looking statements are based on currently valid plans, estimates and expectations. You therefore should view them with caution. Such statements are subject to risks and factors of uncertainty, most of which are difficult to assess and which generally are outside of the control of Klöckner & Co SE. The relevant factors include the effects of significant strategic and operational initiatives, including the acquisition or disposition of companies. If these or other risks and factors of uncertainty occur or if the assumptions on which the statements are based turn out to be incorrect, the actual results of Klöckner & Co SE can deviate significantly from those that are expressed or implied in these statements. Klöckner & Co SE cannot give any guarantee that the expectations or goals will be attained. Klöckner & Co SE – notwithstanding existing obligations under laws pertaining to capital markets –rejects any responsibility for updating the forward-looking statements through taking into consideration new information or future events or other things.

In addition to the key data prepared in accordance with International Financial Reporting Standards, Klöckner & Co SE is presenting non-GAAP key data such as EBITDA, EBIT, Net Working Capital and net financial liabilities that are not a component of the accounting regulations. These key data are to be viewed as supplementary to, but not as a substitute for data prepared in accordance with International Financial Reporting Standards. Non-GAAP key data are not subject to IFRS or any other generally applicable accounting regulations. Other companies may base these concepts upon other definitions.

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Highlights and update on strategy02

Financials Q1 2013

Outlook

Appendix

03

04

05

Agenda

3

Overview01

Page 4: Klöckner & Co - Mid Caps Conference 2013

Klöckner & Co SE at a glance01

CustomersDistributor / Service CenterProducersProducts :

Klöckner & Co SE• Largest producer-independent steel and metal

distributor and one of the leading steel service center companies in the European and American markets combined

• Distribution and service platform with around 255 locations worldwide

• Key figures for 2012Turnover: 7.1 million tonsSales: €7.4 billionEBITDA €139 million (before

restructuring)

Services:• Machinery

and mechanical engineering

• Yellow Goods• White Goods• Miscellaneous

• Automotive

• Commercial/ residential construction

• Infrastructure

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Holistic solution from covering procurement, logistics and processing01

Suppliers Sourcing Products and services

Logistics /distribution

• As a producer-independent distributor, our customers benefit from our diverse national and international procurement options

Customers

• Procurement of large quantities

• Strategic partnerships

• Extensive product range

• Excellent product and processing quality

• Wide-ranging service provision

• Local presence• Individual

delivery, including 24-hour-service

• More than 160,000 customers

• Average normal order size approx. €2,000

Klöckner & Co value chain

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Global reach – local presence01

• With around 240 locations in 15 countries we assure local availability for our customers

• Austria• Belgium• Brazil• China• England• France• Germany• Ireland• Mexico• Netherlands• Puerto Rico• Scotland• Spain• Switzerland• USA

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USA: 38%

Brazil: 1%

China: 1%

D/EEC: 25%

F/BE: 13%

CH: 10%

NL: 3%

UK: 6%

ES: 3%

As of December 2012

Europe: 60%

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Acquisitions shift exposure towards more promising regions and products01

7

As of December 2012

21% Long productsQuality steel/Stainless steel 8%

Aluminium 7%

Tubes 7%

46% Flat productsOthers 11%

Sales by product

Sales by markets

USAFrance/Belgium 13%

Switzerland 10%

UK

25% Germany/EECSpain 3%Netherlands 3%Brazil 1%China <1%

8%

38%

Machinery andmechanical engineering26%

Miscellaneous 10%

Local dealers 12%

Household appliances/Consumer goods 6%

36% Construction industry

Automotive industry 10%

Sales by industry

Page 8: Klöckner & Co - Mid Caps Conference 2013

Current shareholder structure01

8

Geographical breakdown of identified institutional investors

Comments

• Identified institutional investors account for 40%

• German investors incl. retail dominate

• Top 10 shareholdings represent around 23%

• Retail shareholders represent 31%

As of April 2013

Other EU 8%

US 39%

Other World 8%

Switzerland 5%

Germany 27%

France 10%

UK 3%

Page 9: Klöckner & Co - Mid Caps Conference 2013

1%

RelianceRyersonTKSamuelO'NealRusselMacsteelMetals USAPNANamascoOthers

Europe

US

2007 2011

5%AMDSTKKCOSalzgitterTataOthers

5% AMDSTKKCOSalzgitterTataOthers

4%RelianceRyersonKloecknerMetalsTKOthers

• Position in the US significantly improved whereas market share in Europe is expected to remain stable despite heavy restructuring measures

Source: Eurometal, Purchasing Magazine, Service Center News

Klöckner is together with TK the second largest steel and metal distributor in Europe and number three in the US01

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Highlights and update on strategy02

Financials Q1 2013

Outlook

Appendix

03

04

05

Agenda

10

Overview01

Page 11: Klöckner & Co - Mid Caps Conference 2013

Strong benefit from restructuring – margins improving, costs down, but volumes are lacking behind02

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First quarter overshadowed by macro uncertainty, price declines and severe weather conditions in Europe; nevertheless turnover development in both regions beat markets• Europe and also Americas started slowly into the year with turnover +3.8%qoq, but -11.4%yoy

(restructuring impact -3.3%p), sales was only stable qoq due to price decline all over the board, -16.5%yoy

• Restructuring showing double success: gross margin improved from 17.7% to 18.6% and cost-cutting of €16m feeding through to bottom line with €12m EBITDA impact

• EBITDA with €29m at low end of guidance range of €30-40m despite adverse conditions

• Restructuring well on track with 1,600 HC reduced and 50 sites closed

• European ABS-program extended until May 2016 with €360m

• Q2: slight improvement in turnover and EBITDA to €35-45m

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KCO 6.0 measures having strong impact on the P&L02

* After restructuring costs of €3m.Total GP effect: €41m

44*

-4

Price Effect

-14

Volume Effect

-23

EBITDA Q1 2012

Variable costs

29

EBITDAQ1 2013

10

KCO 6.0 Fix-cost effect

16

KCO 6.0 GP effect

KCO 6.0 EBITDA expenses

€12m

274280288

-7.5%

Q1 13Q4 12*Q3 12*Q2 12*

294

Q1 12*

296

-0.6% -2.2% -2.6% -2.3%

in €m

KCO 6.0 EBITDA impact

OPEX

12

• Turnover was 11.4% down on the prior year

• Sales came down 16.5% on the prior year, additionally impacted by falling prices

Program measures

* incl. expenses due to initial application of IAS19 revised 2011 and excl. restructuring expenses.

Page 13: Klöckner & Co - Mid Caps Conference 2013

Annual EBITDA contribution of ~€160m from 2014 onwards through restructuring program KCO 6.002

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Measures• Program extension in France

• Realization of further synergy potential in the US

• Reduction of overall > 2.000 employees (= 17%) and ~70 sites

• Cost reduction by €190m

• Total annual EBITDA-impact increased to ~€160m (before: €150m)

• Reduction of NWC by €165m

• Additional cost of approximately €16mAnnual incremental EBITDA-impact

2013

2014

€51m

already realized

€65m

€45m

Total annual EBITDA-impact of ~€160m

2011-2012

€18m*

* End of April

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02 Implementation of restructuring measures KCO 6.0 are progressing according to plan

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• Sale of Eastern European activities accomplished

• Restructuring France: Original measures to be implemented according to plan in Q2, program extension with additional 5 sites resolved and implemented until year end

• Optimization program USA: Merger and consolidation of 5 sites in order to increase profitability and utilization of further synergy potentials

Comments

240

290

Employees

Sites

UK ESPEEC GER BR

Q3 2011 Q1 2013

UKESP

FEEC

10,212

11,577

GER

HoldingUS

BR

Q3 2011

Europe

-1,042

Americas

Q1 2013

-24-299

Reduced by 1,365, including temps ~1,600

220

End of 2013

F, USA240

F ~9,600

End of 2013

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Exposure to peripheral states in Europe is rather limited after restructuring02

15

Reduced by end of the year

6,923

2,000

European Employees1)

44

14

155

European sites2)

2) 1) Basis is September 20112) Distribution locations only

36%9% 5%

20%

5%

23%2%

95%

closed end of 2013sold (EEC)

• 95% of European business is in Core Europe (Sales 2012)

Page 16: Klöckner & Co - Mid Caps Conference 2013

Despite market distortion basis for reaching the 6% EBITDA-margin target established through transformation of Group structure and cost cutting02

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• Exposure to historically more commoditized European general line distribution cut by half until 2015

BSS 2010

Macsteel 2011

Primary 2007

Canada 2008

USA

EEC 2013Restructuring

KCO 6.0

€6.3bn €8.6bn

grow and increase margin

grow and stabilize high earnings level

improve profitable core

3% Canada

13% USA

14% CH

70% European

general line distribution

43% USA

1% EM

12% CH

9% BSS

35% European

general line distribution

KVT 2008

Temtco 2008

Brazil 2011

6.0 – 6.5%

6.0 – 6.5%

4.0 – 5.0%

2007 2015e

6.0%

Organicgrowth

Major acquisitions

EBITDA-margin target

Major divestments /restructuring

Page 17: Klöckner & Co - Mid Caps Conference 2013

In the same period share of higher margin business will be increased by 11%pts02

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Construction42% Construction

35% Construction30%

Machinery25% Machinery

25% Machinery28%

Automotive6% Automotive

12%Automotive

14%

Others27%

Others28%

Others28%

2007 2013e 2015e

+6%pts

-7%pts-5%pts

+5%pts

• Exposure to more commoditized construction business down from 42% in 2007 to 30% by 2015

31%42%

Page 18: Klöckner & Co - Mid Caps Conference 2013

Summary Klöckner & Co development and strategy02

Transformation process:

• KCO has improved its Group structure significantly since 2007

• Share of higher margin business has been increased substantially

• In Europe the exposure to commoditized general line distribution and the suffering peripheral states has been heavily decreased

• Focus of further growth is concentrated on the more attractive US market

Even if significant changes and improvements are so far not reflected in resultsbecause of extremely weak market conditions, Klöckner & Co will strongly benefitfrom cost savings when markets recover

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Highlights and update on strategy02

Financials Q1 2013

Outlook

Appendix

03

04

05

Agenda

19

Overview01

Page 20: Klöckner & Co - Mid Caps Conference 2013

Financials Q1 201303

20

EBITDA

Sales

Gross profit

Turnover

* Before restructuring costs

€1,945m

€1,625m

-16.5%

Q1 2013Q1 2012

1,857 Tto-11.4%

Q1 2012 Q1 2013

1,646 Tto

-39.6%

Q1 2012 Q1 2013

€29m

€344m€303m

-11.9%

Q1 2013Q1 2012

€47m*€44m

Page 21: Klöckner & Co - Mid Caps Conference 2013

1,5871,885 1,885

1,7391,945 1,964 1,847

1,633 1,625

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

+30.5%

Turnover and sales03

Sales (€m) & Americas shareTurnover (Tto) & Americas share

• Turnover increased less than usual qoq due toeconomic uncertainty and also restructuring impact(- 3.3%p)

• Additionally, both segments were impacted by lessworking days compared to prior year

• Average prices per ton decreased significantly in Q1 qoq (Q1: €987 vs. Q4: €1,030)

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1,646 1,498

1,763 1,765 1,636

1,857 1,863 1,764 1,585

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

+3.8%

-11.4% -16.5%

-0.5%22.3

32.4

39.5 39.540.5 41.1 42.3 42.7 43.5

18.7

27.633.6 34.6 37.1 37.0 37.8 36.3 37.4

Page 22: Klöckner & Co - Mid Caps Conference 2013

EBITDA (€m) / EBITDA-margin (%)

Gross profit and EBITDA03

Gross profit (€m) / Gross-margin (%)

• Despite strongly declining prices, gross profit marginremained stable compared to Q4 and increasedsubstantially vs. last year (+0.9%p)

* Before restructuring costs

22

353

337

318

307

344 344*

306302* 303

22.3

17.916.8

17.6 17.7 17.5* 16.618.5* 18.6

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

• EBITDA-margin benefitting from strong costreduction, pulling out substantially higher EBITDA out of roughly stable gross profit

** As restated for the initial application of IAS19 revised 2011

104

62

37

24*

47* 50*

1821*

29

6.6

3.3

1.91.3

2.4* 2.5*

1.01.3*

1.8

Q12011

Q22011

Q32011

Q42011

Q12012**

Q22012**

Q32012**

Q42012**

Q12013

Page 23: Klöckner & Co - Mid Caps Conference 2013

334

571

698646

752 766 746677 716

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

Key figures by segment03

Turnover (Tto) Sales (€m) EBITDA (€m)

* Restructuring costs: Europe: €3m in Q1, €17m in Q2, €-1m in Q3 and €57m in Q4; Q4 2011: €10m; Americas: €1m in Q4

Turnover (Tto) Sales (€m) EBITDA (€m)

Eur

ope

Am

eric

as

-15.8%

1,164 1,1921,067

9901,105 1,097

1,018908 930

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

1,290 1,3651,251

1,1371,223 1,237

1,1491,041 1,017

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

-16.9%

297

520

634 602

722 727 698

592 608

Q12011

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

-4.8% -15.8%

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** As restated for the initial application of IAS19 revised 2011

81

50

24 22* 22*

35*

12* 16* 14

Q12011

Q22011

Q32011

Q42011

Q12012**

Q22012**

Q32012**

Q42012**

Q12013

30

23

1513

29

22

1216*

21

Q12011

Q22011

Q32011

Q42011

Q12012**

Q22012**

Q32012**

Q42012**

Q12013

Page 24: Klöckner & Co - Mid Caps Conference 2013

Cash flow reflects seasonal built up of NWC03

Cash flow reconciliation in Q1 2013 (€m)

• NWC seasonally increased• Capex (net) of €6m• Cash interests are less than 1/3 of P&L

interest charges due to accretion of debt component for outstanding convertibles and interest costs on pensions

Comments

18-7

-5

-70

29

-41

-6

-35

EBITDAreported

Change inNWC

Taxes Other CF fromoperatingactivities

Capexnet

Free CFInterest

24

Development of net financial debt in Q1 2013 (€m)

2012

CF fromoperatingactivities

Capex(net)

Other*2013

482-19-6-35422

* exchange rate effects, interest

Page 25: Klöckner & Co - Mid Caps Conference 2013

• Equity ratio still solid at 37%

• Net debt of €482m

• Gearing* at 35%

• NWC seasonally increased by €84m to €1,491m** As restated for the initial application of IAS 19 rev. 2011

Strong balance sheet03

* Gearing = Net debt/Equity attributable to shareholders of Klöckner & Co SE less goodwill from businesscombinations subsequent to May 28, 2010

Comments

25

Assets FY 2012 vs. Q1 2013

610 663

787 923

LiquidityOther current assets

Trade receivables

Inventories

Non-current assets

Assets Q1 2013

4,076

105

1,286

1,099

Assets FY 2012**

3,880

122

1,254

1,107

994Current liabilities

Non-current liabilities

Equity

Equity & liabilities Q1 2013

4,076

1,086

1,483

1,507

Equity & liabilities FY 2012**

3,880

1,384

1,502

Equity & liabilities FY 2012 vs. Q1 2013

38.7% 37.0%

Page 26: Klöckner & Co - Mid Caps Conference 2013

Statement of changes in equity03

26* As restated for the initial application of IAS 19 rev. 2011

1.634

IAS 19R

13

Net Income

-16

Equity as of December 31,

2012 (as restated for IAS19)

1,502

Revised equity as of December

31, 2012*

1,634

-132

Equity as of March 31, 2013

1,507

F/X and Hedging Reserves

8

Comprehensive income: +€4m

• Improvement mainlydue to higher interestrates

• Net investment hedges• f/x foreign subsidiaries

Page 27: Klöckner & Co - Mid Caps Conference 2013

Balanced maturity profile March 201303

27

Maturity profile of committed facilities and drawn amounts (€m)

€m Facility CommittedDrawn amount

Q1 2013* FY 2012*

Bilateral Facilities 1) 583 79 98

Other Bonds 9 10 9

ABS 5) 575 281 161

Syndicated Loan 5) 360 162 161

Promissory Note 343 351 348

Total Senior Debt 1,870 883 777

Convertible 2009 2) 98 95 92

Convertible 2010 2) 186 167 164

Total Debt 2,154 1,145 1,033

Cash 4) 663 611

Net Debt 482 422

€m Q1 2013

Adjusted equity 1,359

Net debt 482

Gearing 3) 35%

*Including interest1) Including finance lease2) Drawn amount excludes equity component3) Net debt/Equity attributable to shareholders of Klöckner & Co SE less goodwill from business combinations subsequent to May 28, 20104) Incl. cash in assets held for sale5) European ABS and Syndicated Loan renewed in Q2/20136) Incl. Swiss facilities of €230m which are automatically renewed on a yearly basis

Left side: committed facilities Right side: drawn amounts

6) 5)

62 62

70 70

13618698987575

160

213

68

27

8

8

1010

1231

2016

864

258372

215

Thereafter

240

473

136

360

360

266

2015

266

186

172

2014

17818106

2013

373

298

ABS Syndicated loanBilaterals Promissory notes Convertibles

Page 28: Klöckner & Co - Mid Caps Conference 2013

Highlights and update on strategy02

Financials Q1 2013

Outlook

Appendix

03

04

05

Agenda

28

Overview01

Page 29: Klöckner & Co - Mid Caps Conference 2013

Outlook

• Q2 2013• Turnover to be sequentially up in Q2 rather based on seasonality than on economic improvement• EBITDA in Q2 against this background expected to be between €35-45m

• FY 2013• Guidance of stable turnover and sales with EBITDA of €200m looks increasingly unrealistic, since

there are currently no signs visible of a still widely anticipated recovery in second half of the year• Restructuring measures in France further extended. EBITDA contribution of overall €65m in 2013

and €45m in 2014• Optimization program to improve profitability in the US by utilizing synergy potentials after strong

growth initiated• Positive free cash flow expected • Further reduction of net debt despite restructuring costs

04

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Page 30: Klöckner & Co - Mid Caps Conference 2013

Highlights and update on strategy02

Financials Q1 2013

Outlook

Appendix

03

04

05

Agenda

30

Overview01

Page 31: Klöckner & Co - Mid Caps Conference 2013

Quarterly results and FY results 2008-201305

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(€m) Q1 2013

Q4 2012*

Q32012*

Q22012*

Q12012*

Q42011

Q3 2011

Q2 2011

Q1 2011

FY 2012*

FY2011

FY 2010

FY2009

FY 2008

Turnover (Tto) 1,646 1,585 1,764 1,863 1,857 1,636 1,765 1,763 1,498 7,068 6,661 5,314 4,119 5,974

Sales 1,625 1,633 1,847 1,964 1,945 1,739 1,885 1,885 1,587 7,388 7,095 5,198 3,860 6,750

Gross profit 303 298 306 340 344 307 318 337 353 1,288 1,315 1,136 645 1,366

% margin 18.6 18.3 16.6 17.3 17.7 17.6 16.8 17.9 22.3 17.4 18.5 21.9 16.7 20.2

EBITDA rep. 29 -35 18 33 44 14 37 62 104 62 217 238 -68 601

% margin 1.8 -2.1 1.0 1.7 2.3 0.8 1.9 3.3 6.6 0.8 3.1 4.6 -1.8 8.9

EBIT 2 -89 -9 -24 18 -18 8 36 86 -103 111 152 -178 533

Financial result -19 -14 -22 -18 -25 -21 -22 -21 -19 -76 -84 -67 -62 -70

Income before taxes -16 -103 -31 -42 -8 -39 -15 15 66 -179 27 84 -240 463

Income taxes 1 -19 3 3 -4 12 3 -9 -22 -19 -17 -4 54 -79

Net income -16 -123 -29 -39 -12 -27 -12 5 44 -198 10 80 -186 384

Minority interests 0 -1 -1 0 1 -1 -1 0 1 -3 -1 3 3 -14

Net income KlöCo -16 -122 -28 -39 -11 -27 -11 5 43 -195 12 78 -188 398

EPS basic (€) -0.16 -1.22 -0.28 -0.39 -0.11 -0.27 -0.11 0.07 0.65 -1.95 0.14 1.17 -3.61 8.56

EPS diluted (€) -0.16 -1.22 -0.28 -0.39 -0.11 -0.27 -0.11 0.07 0.60 -1.95 0.14 1.17 -3.61 8.11* As restated due to initial application of IAS19 revised 2011.

Page 32: Klöckner & Co - Mid Caps Conference 2013

Strong Growth: 24 acquisitions since the IPO05

32

Acquisitions1) Acquired sales1),2)

€141m

€567m

€108m

24

12

2

2005 2006 2007 2008 2009 2010

4

€231m

€712m

2011

2

€1.15bn

¹ Date of announcement 2 Sales in the year prior to acquisitions

Country Acquired 1) Company Sales (FY)2)

GER Mar 2010 Becker Stahl-Service €600m

CH Jan 2010 Bläsi €32m

2010 4 acquisitions €712m

US Mar 2008 Temtco €226m

UK Jan 2008 Multitubes €5m

2008 2 acquisitions €231m

CH Sep 2007 Lehner & Tonossi €9m

UK Sep 2007 Interpipe €14m

US Sep 2007 ScanSteel €7m

BG Aug 2007 Metalsnab €36m

UK Jun 2007 Westok €26m

US May 2007 Premier Steel €23m

GER Apr 2007 Zweygart €11m

GER Apr 2007 Max Carl €15m

GER Apr 2007 Edelstahlservice €17m

US Apr 2007 Primary Steel €360m

NL Apr 2007 Teuling €14m

F Jan 2007 Tournier €35m

2007 12 acquisitions €567m2006 4 acquisitions €108m

USA Dec 2010 Lake Steel €50m

USA Sep 2010 Angeles Welding €30m

Brazil May 2011 Frefer €150m

USA April 2011 Macsteel €1bn

2011 2 acquisitions €1,150m

Page 33: Klöckner & Co - Mid Caps Conference 2013

Comments

Balance sheet as of December 31, 201205

33

(€m) March 31, 2013 December 31, 2012*

Non-current assets 1,099 1,107

Inventories 1,287 1,254

Trade receivables 923 787

Cash & Cash equivalents 663 610

Other assets 105 122

Total assets 4,076 3,880

Equity 1,507 1,502

Total non-current liabilities 1,483 1,384

thereof financial liabilities 1,007 914

Total current liabilities 1,086 994

thereof trade payables 718 634

Total equity and liabilities 4,076 3,880

Net working capital 1,491 1,407

Net financial debt 482 422

Shareholders’ equity:• Decrease to 37% mainly

caused by NWC increaseFinancial debt:• Gearing at 35%• Gross debt of €1.2bn and

cash position of €0.7bn result in a net debt position of €482m

*) Restated due to initial application of IAS19 revised 2011.

Page 34: Klöckner & Co - Mid Caps Conference 2013

Profit & loss Q1 201305

(€m) Q1 2013 Q1 2012*

Sales 1,625 1,945

Gross profit 303 344

Personnel costs -151 -163

Other operating expenses (net) -123 -137

EBITDA 29 44

Depreciation & Amortization -26 -26

EBIT 2 18

Financial result -19 -25

EBT -16 -8

Taxes 1 -4

Net income -16 -12

Minorities 0 1

Net income attributable to KCO shareholders -16 -11

34

*) Restated due to initial application of IAS19 revised 2011.

Page 35: Klöckner & Co - Mid Caps Conference 2013

Segment performance Q1 201305

35

(€m) Europe Americas HQ/Consol. Total

Turnover (Tto)

Q1 2013 930 716 1,646

Q1 2012 1,105 752 1,857

∆ % -15.8 -4.8 -11.4

Sales

Q1 2013 1,017 608 0 1,625

Q1 2012 1,223 722 0 1,945

∆ % -16.9 -15.8 -16.5

EBITDA

Q1 2013 14 21 -6 29

% margin 1.4 3.4 1.8

Q1 2012 19 29 -4 44

%margin 1.5 4.1 2.3

∆ % EBITDA -24.2 -30.2 -34.9

Page 36: Klöckner & Co - Mid Caps Conference 2013

Appendix05

36

Financial calendar 2013

August 7, 2013 Q2 interim report 2013

November 6, 2013 Q3 interim report 2013

Contact details Investor Relations

Dr. Thilo Theilen, Head of Investor Relations & Corporate Communications

Phone: +49 203 307 2050

Fax: +49 203 307 5025

E-mail: [email protected]

Internet: www.kloeckner.com

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Our Symbol

the earsattentive to customer needs

the eyeslooking forward to new developments

the nosesniffing out opportunitiesto improve performance

the ballsymbolic of our role to fetchand carry for our customers

the legsalways moving fast to keep up withthe demands of the customers