Kloeckner & Co Se · XETR:KCO
Kloeckner & — Q1 2026 Earnings Presentation
29 slides from Kloeckner &'s earnings presentation, May 6, 2026
Slide 1: Q1 2026 Results
Q1 2026 Results Analysts’ and Investors’ Conference Call Guido Kerkhoff | CEO Dr. Oliver Falk | CFO John Ganem | Member of the Management Board May 6, 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 Q1 2026
Highlights of Q1 2026 Considerable EBITDA*) increase despite lower shipment volumes Q1 2026 Q1 2025 Delta Decrease driven by divestment of eight US distribution sites (+2.1% lfl**)) Shipments (Tto) 1,096 1,170 -6.4% partly offset by positive development in Europe Sales (€m) 1,568 1,666 -5.9% Conside
Slide 5: Segment performance
Segment performance Kloeckner Metals Europe with highest EBITDA*) since Q1 2023 KM Americas +0.7% lfl**) -1.9% lfl **) Shipments (Tto) Sales (€m) EBITDA*) (€m) -12.2% -14.9% -11 80 757 762 744 987 963 941 66 800 1,000 676 664 840 840 800 60 600 48 44 600 40 37 400 400 19 200 20 200 0 0 0 Q1 2025 Q2
Slide 6: Our strategic progress
Our strategic progress Reducing underlying volatility while increasing profitability Continued to focus on higher value-added products and services Sales split*) by business Reached significant milestones in the recent past: Strengthened the portfolio through targeted acquisitions and divestme
Slide 7: Voluntary public takeover offer by Worthington Steel
Voluntary public takeover offer by Worthington Steel 61.87% of all outstanding Klöckner & Co shares secured X by Worthington Steel after additional offer period H2 2026 expected closing Klöckner & Co SE | Q1 2026 Results | Analysts' and Investors' Conference 7
Slide 8: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 8
Slide 9: Our net working capital management
Our net working capital management Favorable pricing dynamics persisted in Q1 2026 ~+26% ~1,120 Following pronounced volatility in FY 2025, steel prices increased ~1,030 ~-14% considerably in the US and Europe ~+34% ~890 These positive price dynamics persisted in the first quarter of 2026, ~760
Slide 10: Shipments, sales and gross profit development
Shipments, sales and gross profit development Q1 2026 figures impacted by divestment of eight US distribution sites - shipments and sales both increased slightly by 2.1% lfl*) Shipments & sales Gross profit & gross profit margin 1,666 1,643 317 320 1,609 131 1,568 28 27 295 298 133 122 1,462 21 272
Slide 11: EBITDA development
EBITDA development Achieved considerable EBITDA increase yoy driven by positive price and volume effects EBITDA (€m) in Q1 2026 EBITDA in Q1 2025 adjusted for the divestment of eight US distribution -9 sites to enable like for like comparison 20 Positive volume effect of €6m and price effect of
Slide 12: Cash flow and net financial debt
Cash flow and net financial debt Negative OCF mainly due to seasonal NWC build up Cash flow Q1 2026 (€m) EBITDA reported of €41m 41 Seasonal net working capital build up of €279m -279 Cash flow from operating activities of €-270m -270 -12 -5 -15 -306 Net CAPEX of €36m -36 Free cash flow ac
Slide 13: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 13
Slide 14: 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 | Q1 2026 Results | Analysts' and Investors' Conference 14
Slide 15: Outlook
Outlook Q2 Slight increase in shipments and considerable increase in sales expected (qoq) 2026 EBITDA before material special effects expected to come in between €40-80m Shipments expected to decrease slightly yoy, while sales are expected to increase slightly yoy FY 2026 EBITDA before mater
Slide 16: Q&A session
Q&A session Klöckner & Co SE | Q1 2026 Results | Analysts' and Investors' Conference 16
Slide 17: Agenda
1. Highlights and update on strategy 2. Financials Agenda 3. Outlook 4. Appendix 17
Slide 18: Quarterly and FY results
Quarterly and FY results Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 FY FY FY FY FY FY (€m) 2026 2025 2025 2025 2025 2024*) 2024*) 2024*) 2024*) 2025 2024*) 2023*) 2022*) 2022 2021 Shipments (Tto) 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 1,568 1,462 1,609 1,643
Slide 19: Shipments, sales and gross profit development
Shipments, sales and gross profit development Q1 2026 figures impacted by divestment of eight US distribution sites - shipments and sales both increased slightly by 2.1% lfl*) Shipments & sales Gross profit & gross profit margin 1,666 317 320 1,643 1,609 1,568 295 298 1,462 272 1,170 1,164 1,144 1,0
Slide 20: Balance sheet development
Balance sheet development Equity ratio 44%, gearing*) of 67% and leverage of 6.2x Assets (€m) Equity & liabilities (€m) 3,706 3,706 3,279 3,279 1,398 1,648 1,263 1,582 1,188 1,144 1,140 764 17 16 937 665 646 696 117 60 53 130 251 257 Dec. 31, 2025 Mar. 31, 2026 Dec. 31, 2025 Mar. 31, 2026 Non-curren
Slide 21: Developing from a steel distributor to a metal processor
Developing from a steel distributor 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 Distribution Servi
Slide 22: 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 23: Share performance in Q1 2026
Share performance in Q1 2026 In the first quarter of 2026, the capital market environment 150% was characterized by sustained losses and high volatility in response to the Iranian war 140% The share price of Klöckner & Co on the other hand was 130% mainly affected by the voluntary public takeove
Slide 24: Maturity profile
Maturity profile Facility Committed Drawn amount €m Mar 31, 2026 (€m) Mar 31, 2026 Mar 31, 2026 Dec 31, 2025 Adjusted equity1) 1,639 Syndicated Loan 350 195 135 Net Debt 1,092 ABS Germany 100 91 38 Gearing2) 67% ABL USA 565 306 249 Leverage3) 6.2x ABL Mexico 100 97 77 Syndicated Loan CH 218 179 75 M
Slide 25: 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 26: 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 27: 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 28: 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 | Q1 2026 Results | Analysts' and Investors' Conference 28
Slide 29: Financial calendar and investor relations contact
Financial calendar May 20, 2026 Annual General Meeting 2026 August 5, 2026 Half-yearly financial report 2026 Fabian Joseph Head of Investor Relations November 4, 2026 Q3 quarterly statement 2026 +49 211 88245-488 fabian.joseph@kloeckner.com www.kloeckner.com