<p>German steel maker Salzgitter Group posted its best pre-tax result in 13 years with a profit before tax of EUR 705.7 million in the 2021 financial year, due to the positive steel price dynamics, the Strip Steel and Trading business units in particular contributed to the significant improvement in earnings. In addition, the Beams division posted an excellent result despite the massive rise in energy prices, and the Technology Division also significantly increased its pre-tax profit. Salzgitter AG CEO Mr Gunnar Groebler said "After two economically difficult years, we achieved an excellent result in 2021 with a profit before tax of €706 million. This is not only gratifying, but also strengthens the economic basis that we need to successfully master the forthcoming transformation into a market leader for circular economy solutions and a pioneer in low-CO 2 steel production in Europe.</p><p>The external sales of the Salzgitter Group rose to EUR 9,767.4 million (2020: EUR 7,090.8 million) due to the higher shipping volume compared to the previous year and the significantly improved average prices of most rolled steel products. The EUR 705.7 million profit before taxes (2020: EUR minus 196.4 million) includes a EUR 217.1 million contribution from the investment in Aurubis AG accounted for using the equity method. A total of EUR 243.3 million in impairment had the opposite effect, most of which was incurred in the Mannesmann division. These one-off accounting write-downs will relieve future results. Earnings after taxes of EUR 586.1 million (2020: EUR minus 273.9 million</p><p>Outlook - Against the background of the extremely encouraging start to the year and the continuing strong development of earnings, especially in the flat steel area, Salzgitter expects strong performance in the 2022 financial year with an increase in sales to almost EUR 11 billion & pre-tax profit of EUR 600-750 million. However, Russia's attack on Ukraine and its consequences could bring about an abrupt slowdown in economic recovery and thus also affect Group companies. This is accompanied by the risk of a further increase in the already very high energy costs. As a result, there are currently hardly any quantifiable forecast risks.</p>
<p>German steel maker Salzgitter Group posted its best pre-tax result in 13 years with a profit before tax of EUR 705.7 million in the 2021 financial year, due to the positive steel price dynamics, the Strip Steel and Trading business units in particular contributed to the significant improvement in earnings. In addition, the Beams division posted an excellent result despite the massive rise in energy prices, and the Technology Division also significantly increased its pre-tax profit. Salzgitter AG CEO Mr Gunnar Groebler said "After two economically difficult years, we achieved an excellent result in 2021 with a profit before tax of €706 million. This is not only gratifying, but also strengthens the economic basis that we need to successfully master the forthcoming transformation into a market leader for circular economy solutions and a pioneer in low-CO 2 steel production in Europe.</p><p>The external sales of the Salzgitter Group rose to EUR 9,767.4 million (2020: EUR 7,090.8 million) due to the higher shipping volume compared to the previous year and the significantly improved average prices of most rolled steel products. The EUR 705.7 million profit before taxes (2020: EUR minus 196.4 million) includes a EUR 217.1 million contribution from the investment in Aurubis AG accounted for using the equity method. A total of EUR 243.3 million in impairment had the opposite effect, most of which was incurred in the Mannesmann division. These one-off accounting write-downs will relieve future results. Earnings after taxes of EUR 586.1 million (2020: EUR minus 273.9 million</p><p>Outlook - Against the background of the extremely encouraging start to the year and the continuing strong development of earnings, especially in the flat steel area, Salzgitter expects strong performance in the 2022 financial year with an increase in sales to almost EUR 11 billion & pre-tax profit of EUR 600-750 million. However, Russia's attack on Ukraine and its consequences could bring about an abrupt slowdown in economic recovery and thus also affect Group companies. This is accompanied by the risk of a further increase in the already very high energy costs. As a result, there are currently hardly any quantifiable forecast risks.</p>
