WIESBADEN (dpa-AFX) - Steel trader Klockner & Co continues to feel the effects of the sluggish global economy. This is putting pressure on steel prices. In the first quarter, Group sales fell by 5.6 percent year-on-year to 1.74 billion euros, as Klockner & Co announced on Tuesday. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell by more than a third year-on-year to 42 million euros. This is in line with the company's forecast, but is less than the two analysts surveyed by the Bloomberg news agency had expected on average. For the second quarter, the management is targeting an operating result of 30 to 70 million euros.

The net loss attributable to shareholders amounted to 33 million euros in the first quarter - after a loss of 8 million euros a year ago. The larger loss is due to negative deconsolidation effects in the course of the sale of parts of the steel trading business in Europe./mis/stk