Kloeckner & Co Se · XETR:KCO
Kloeckner & — Q2 2026 Earnings Presentation
26 slides from Kloeckner &'s earnings presentation, Aug 5, 2026
Slide 1: Q2 2026 Results
Q2 2026 Results Analysts’ and Investors’ Conference Call Guido Kerkhoff | CEO Dr. Oliver Falk | CFO August 5, 2026
Slide 2: Disclaimer
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
Slide 3: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 3
Slide 4: Highlights of Q2 2026
Highlights of Q2 2026 Q2 2026 Q2 2025 Delta Slight decrease driven by divestment of eight US distribution sites Shipments (Tto) 1,115 1,164 -4.2% (+4.3% lfl**)) partly offset by higher demand in Europe Slight increase yoy (+12.1% lfl**)) due to higher average price level in both Sales (€m) 1,693 1,6
Slide 5: Segment performance
Segment performance Positive shipment development in both segments KM Americas +13.5% lfl **) +4.7% lfl**) Shipments (Tto) Sales (€m) EBITDA*) (€m) -2.1% -8.3% -24 80 762 744 963 941 942 66 800 699 1,000 676 664 840 840 800 60 600 44 42 600 40 37 400 400 19 200 20 200 0 0 0 Q2 2025 Q3 2025 Q4 2025 Q
Slide 6: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 6
Slide 7: Our net working capital management
Our net working capital management Generated solid EBITDA*) in Q2 2026 and positive operating cash flow ~1,230 ~+38% ~1,040 ~-7% ~-8% ~970 ~890 Improved steel price levels, especially in the US, continued to support the market environment in Q2 2026 ~-3% ~715 ~660 ~-11% ~+21% ~690 These favorabl
Slide 8: Shipments, sales and gross profit development
Shipments, sales and gross profit development Q2 2026 figures impacted by divestment of eight US distribution sites – shipments increased slightly by 4.3% lfl*) while sales grew considerably by 12.1% lfl*) Shipments & sales Gross profit & gross profit margin 1,693 320 1,643 1,609 27 298 1,568 295 13
Slide 9: EBITDA development
EBITDA development EBITDA (€m) in Q2 2026 EBITDA in Q2 2025 supported by positive price and volume effects 21 -27 OPEX higher by €27m yoy 2 -9 13 0 Negative material special effects mainly relate to the planned divestment 63 56 63 of Becker -171 -108 EBITDA Material Effects EBITDA**) Volume Pr
Slide 10: Cash flow and net debt development
Cash flow and net debt development Cash flow Q2 2026 (€m) EBITDA reported of €-108m -14 -15 -10 -3 Net working capital change of €156m 10 7 156 Positive cash flow from operating activities of €10m -108 Net CAPEX of €3m EBITDA Change Interest Taxes Other Cash flow Net CAPEX Free cash Free c
Slide 11: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 11
Slide 12: Region specific business outlook 2026
Region specific business outlook 2026 Real steel Construction Manufacturing, Transportation Household & Energy demand Industry Machinery & Commercial Industry Mech. Eng. Appliances North +1% to +2% America Europe +1% to +2% Klöckner & Co SE | Q2 2026 Results | Analysts' and Investors' Conference 12
Slide 13: Outlook
Outlook Shipments expected to decrease slightly while sales are expected to increase slightly FY EBITDA before material special effects expected to come in between €170-250m 2026 Expecting positive operating cash flow, considerably below previous year's level Klöckner & Co SE | Q2 2026 Results
Slide 14: Q&A session
Q&A session Guido Kerkhoff Dr. Oliver Falk CEO CFO Klöckner & Co SE | Q2 2026 Results | Analysts' and Investors' Conference 14 14
Slide 15: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 15
Slide 16: Quarterly and FY results
Quarterly and FY results Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 FY FY FY FY FY FY (€m) 2026 2026 2025 2025 2025 2025 2024*) 2024*) 2024*) 2024*) 2025 2024*) 2023*) 2022*) 2022 2021 Shipments (Tto) 1,115 1,096 1,049 1,144 1,164 1,170 1,027 1,122 1,164 1,139 4,528 4,453 4,248 4,193 4,679 4,881 Sales 1,693 1,56
Slide 17: Balance sheet development
Balance sheet development Equity ratio 37%, gearing*) of 84% and leverage of 6.4x Assets (€m) Equity & liabilities (€m) 3,567 3,567 3,279 3,279 1,257 1,330 1,263 1,582 1,085 1,198 1,144 764 17 16 836 665 681 696 117 60 94 294 342 251 Dec. 31, 2025 June 30, 2026 Dec. 31, 2025 June 30, 2026 Non-curren
Slide 18: Developing from a steel distribution company to a metal processor
Developing from a steel distribution company to a metal processor Reducing our distribution sales exposure from 37% to just 13% EBITDA before MSE*) development by business HVAB Transforming our business from pure distribution to higher value-added 400 SC and service center business 300 Distributio
Slide 19: Sales by markets, products and industries
Sales by markets, products and industries Markets Products Industries 2% 1% 11% 7% 16% 7% 5% 28% 11% 7% 54% 10% 23% 59% 20% 12% 27% North America Flat products Construction Long products Manufacturing, machinery, mechanical engineering Germany/Austria Aluminum Transportation Switzerland Stainless st
Slide 20: Share performance in Q2 2026
Share performance in Q2 2026 The share price of Klöckner & Co was mainly primarily 160% impacted by the voluntary public takeover by Worthington Steel 150% It started the quarter at €12.24, and reached its lowest price 140% of €12.16 on April 9, 2026 The price remained stable throughout the se
Slide 21: Maturity profile
Maturity profile Committed Facility Drawn amount Maturity profile (excl. Leases) in €m, June 30, 2026 June 30, (€m) June 30, 2026 Dec 31, 2025 671 2026 101 Syndicated Loan1) 150 115 135 WS Shareholder Loan2) 200 176 - ABS Germany3) 60 38 38 570 217 210 200 60 ABL USA 570 360 249 217 200 24 150 ABL M
Slide 22: Dividend policy
Dividend policy In general, Klöckner & Co SE follows a dividend policy of distributing 30% Due to earnings-related reasons, no dividend payment in 2011, 2012, of net income before special items. Given the volatility of our business 2013 and 2015 model, a sustainable dividend payment cannot be guar
Slide 23: Our ambitious climate target
Our ambitious climate target Our net zero carbon targets have been approved in the regular process as science-based targets by the Science Based Targets initiative (SBTi) Scope 1 & 2 Scope 3 Scope 3 Our direct and indirect emissions Under direct influence Not under direct influence 62.5% reduction b
Slide 24: Nexigen® steel categorization
Nexigen® steel categorization Six categorizations for transparent carbon emissions We have developed a categorization for CO2 -reduced steel so that customers can directly see the carbon footprint of their purchased product. Leading the sustainability transformation Methodology along international s
Slide 25: A comprehensive approach
A comprehensive approach Nexigen® categorizations for stainless steel & aluminum Emission in kg CO2 / t stainless steel Emission in kg CO2 / t aluminum Klöckner & Co SE | Q2 2026 Results | Analysts' and Investors' Conference 25
Slide 26: Fabian Joseph
Fabian Joseph Head of Investor Relations +49 211 88245-488 fabian.joseph@kloeckner.com www.kloeckner.com