Klöckner and Co. SE, the steel and metal distributor, saw its net profit vanish and turn into a loss in Q2 2026. The firm reported a net loss of €268 million, a stark contrast to the €2 million profit it posted in the second quarter of the previous year. The loss per share came in at €2.70, down sharply from a profit of €0.02 a year ago.
Adjusted EBITDA for the second quarter fell to €63 million, compared to €65 million in the prior year period. The decline was partly offset by a sequential rise from €46 million in Q1 2026, though it came amid ongoing economic pressures and heightened geopolitical tensions, especially in the Middle East.
The firm attributed the loss to an impairment charge related to the Becker Group, which weighed heavily on quarterly results. However, adjusted for the closure of eight U.S. distribution sites at the end of 2025, shipments rose 3.2%.
Klöckner's sales increased to €1.7 billion in Q2, up from €1.6 billion in the second quarter of 2025. Excluding the impact of the eight closed sites, revenue climbed 12.1%. The firm expects slight declines in shipment volumes in 2026, but forecasts an increase in sales, supported by higher average pricing.
Looking ahead, the company set a full-year 2026 adjusted EBITDA target of €170 million to €250 million. It now expects a small drop in shipments, but an uptick in sales driven by price gains.