Kloeckner & Co Ag (KLKNF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone, this is Fabian Josef from Investor Relations. Also on behalf of my entire team, I wish you a very warm welcome to our full year 2025 conference call. With me today are our CEO Guido Kerkhoff, our CFO Oliver Falk and our CEO Americas John Gannem. They will guide you through the presentation and afterwards, we are happy to take your questions. In order to ask a question, you have to press the live Q&A button and we will open your line. With that, I'd like to hand over to you, Guido. Yeah, thanks Fabian. And welcome to our full year 25 conference call. Before I dive into the highlights of the past financial year 25, let me start with a brief and important update regarding the voluntary public takeover offer by Worthington Steel. As announced by Worthington Steel yesterday, the company has decided to adjust the terms of its offer. Specifically Worthington Steel has lowered the minimum acceptance threshold to 57.5% and extended the offer period to March 26, 2026. We understand the step and consider it a logical and common procedure for further increasing transaction security. With the total number of shares currently secured by Wirthing Steel, including acceptance and some direct holdings, standing at 56.92% as of yesterday. The transaction is now very close to reaching this new threshold. Please always keep in mind that the management shares, which account for around 0.5% will be tendered, but due to the quiet period, they can only be tendered from now on. I want to emphasize that this technical adjustment does not change the compelling strategic rationale for the business combination or the attractiveness of the offered price of 11 euros in cash for Kleppner and Co's share. Therefore, our management board and supervisory board of Kleppner and Co's will p...