German steelmaker Salzgitter Group has delivered an excellent result with a pre-tax profit of EUR 1.1 billion in the first nine months of the financial year 2022 against the backdrop of an increasingly deteriorating economic environment. In the first nine months of the financial year, Salzgitter Group’s external sales rose by around 40 % to EUR 9.765 billion as compared to EUR 7.002 billion in 9M of 2021, above all on the back of prices. EBITDA increased to EUR 1.397 billion as compared to EUR 866.8 million on 9M of 2021. The after-tax result stood at EUR 945.8 million as compared to EUR 467.7 million in 9M of 2021This performance was driven mainly by the Steel Production, Steel Processing and Trading business units that benefited from the prices of most rolled steel products having meanwhile risen to record levels. The Technology Business Unit and the industrial participations also reported gratifying results. In terms of SALCOS transformation program, Salzgitter achieved important milestones. Upon the Supervisory Board’s approval of EUR 723 million of the company’s own funds and a first administrative agreement between the Federal State of Lower Saxony and the Federal Republic of Germany and the approval of the public funding by the EU-Commission in the context of sharing the efforts to promote the project, financing the first stage of SALCOS has been virtually secured. Construction work on the project has commenced, and the first orders have been placed for the equipment and facilities.Salzgitter anticipates 2022 sales in the region of EUR 13 billion, EBITDA of between EUR 1.4-1.6 billion & EBT of between EUR 1.0-1.2 billion. Salzgitter said “This guidance is based on the assumption of the ongoing, unlimited availability of natural gas as a prerequisite for maintaining production. We make explicit reference to virtually unquantifiable risks in connection with the war in Ukraine, the impact of which has already triggered a notable economic downturn and energy prices rising by leaps and bounds.”
German steelmaker Salzgitter Group has delivered an excellent result with a pre-tax profit of EUR 1.1 billion in the first nine months of the financial year 2022 against the backdrop of an increasingly deteriorating economic environment. In the first nine months of the financial year, Salzgitter Group’s external sales rose by around 40 % to EUR 9.765 billion as compared to EUR 7.002 billion in 9M of 2021, above all on the back of prices. EBITDA increased to EUR 1.397 billion as compared to EUR 866.8 million on 9M of 2021. The after-tax result stood at EUR 945.8 million as compared to EUR 467.7 million in 9M of 2021This performance was driven mainly by the Steel Production, Steel Processing and Trading business units that benefited from the prices of most rolled steel products having meanwhile risen to record levels. The Technology Business Unit and the industrial participations also reported gratifying results. In terms of SALCOS transformation program, Salzgitter achieved important milestones. Upon the Supervisory Board’s approval of EUR 723 million of the company’s own funds and a first administrative agreement between the Federal State of Lower Saxony and the Federal Republic of Germany and the approval of the public funding by the EU-Commission in the context of sharing the efforts to promote the project, financing the first stage of SALCOS has been virtually secured. Construction work on the project has commenced, and the first orders have been placed for the equipment and facilities.Salzgitter anticipates 2022 sales in the region of EUR 13 billion, EBITDA of between EUR 1.4-1.6 billion & EBT of between EUR 1.0-1.2 billion. Salzgitter said “This guidance is based on the assumption of the ongoing, unlimited availability of natural gas as a prerequisite for maintaining production. We make explicit reference to virtually unquantifiable risks in connection with the war in Ukraine, the impact of which has already triggered a notable economic downturn and energy prices rising by leaps and bounds.”
