Klöckner Steel Distribution Group & Co increased revenue in the second quarter, but reported losses due to impairment of assets related to Becker Group, which it plans to separate.
After the sale of several plants in the United States at the end of last year, shipments in the second quarter totaled 1.12 million tons, which is 0.1 million tons less than in the second quarter of 2025. However, taking into account the objects sold, the volume of deliveries increased by 3.2% compared to the same period last year. Revenue for the 2nd quarter amounted to 1.7 billion euros ($1.96 billion), which is 6% more than in the previous year. Adjusted for the sale of assets in the United States, the growth was as much as 12%, the company notes.
It reports a negative consolidated net profit of 268 million euros compared to a profit of 2 million euros in the second quarter of 2025, which was significantly affected by impairment losses related to the Becker Group.
Becker is Germany's largest steel production service center with a capacity of 1 million tons of strip steel per year. It was acquired by Klöckner in 2010 and put up for sale in January of this year.
In recent years, the division has undergone changes in its management staff. Market observers told Kallanish that, in their opinion, the house's activities suffered due to the integration into the corporate structures of the listed group.
Before that, the business was in the hands of founder and CEO Ulrich Lollert and his team. However, in recent years, observers have informed Kallanish that the company often did not operate at full capacity.
Another announcement about Becker's spin-off came immediately after it became known about Klöckner's takeover offer for Worthington Steel. "Perhaps it was a demand or an offer from the Americans at the talks," suggests one of the observers.
Klöckner's has previously stated that the intention to sell Becker company is in line with the group's desire for profitable growth in the production of products and services with higher added value. "The disposal of Becker Group shares is proceeding according to plan," it says. On May 17, 2018, Kloeckner stated that several non-binding offers had been received, and it was reported that potential buyers were currently in the due diligence phase, but more recent information on the progress of the process had not yet been received.
Author: Christian Kel Germany
kallanish.com