July 24, 2018 / 5:07 AM / in 2 months

Kloeckner expects positive earnings trend to continue

BERLIN, July 24 (Reuters) - German steel distributor Kloeckner & Co, which has benefited from higher metals prices in the United States, expects its positive earnings trend to continue for the rest of the year, it said on Tuesday.

Kloeckner confirmed second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) of 82 million euros ($97 million), up from previous guidance of 65-75 million, a figure it already reported earlier this month.

The United States has imposed tariffs on steel imports from certain countries, pushing up metals prices.

Kloeckner said it expected the positive earnings trend to continue in the third quarter, when it expects EBITDA of 55 million to 65 million euros, and the full year, when it expects at least a slight increase in EBITDA.

The firm also said the proportion of sales from digital channels exceeded the 20 percent mark at the end of the second quarter, more than doubling in the last 24 months. (Reporting by Emma Thomasson Editing by Caroline Copley)

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