German steel maker Salzgitter Group has achieved pre-tax profit of EUR 706.7 million in 2021 as compared to loss of EUR 196.4 million in 2020. The Strip Steel & Trading business units made major contributions to the substantial improvement in profit. Furthermore, the sections segment reported an outstanding result despite the massive increase in energy prices and the Technology Business Unit also significantly lifted its pre-tax profit. The result also includes a contribution of EUR 217.1 million from Aurubis AG. A countertrend emanated in particular from impairment of EUR 235.1 million in the Mannesmann Business Unit.Outlook----------Salzgitter aid “While we assess the probability of another pandemic-induced plunge in the economy as rather unlikely, virtually unquantifiable forecast risks consist of the extremely high energy costs and the threat of further price increases, also against the backdrop of the uncertainty surrounding the current geopolitical hazards. Moreover, as in recent years, we make reference to the fact that opportunities and risks from currently unforeseeable trends in selling prices, input material prices and capacity level developments, as well as exchange rate fluctuations, may considerably affect performance in the course of the financial year 2022. However, in view of the decidedly encouraging start to the year and the sustained, strong profit trend, above all in the strip steel business, Salzgitter anticipate the following for the Salzgitter Group in the financial year 2022An increase in sales to just under EUR 11 billion as against EUR 9.8 billion in 2021A pre-tax profit EBT of between EUR 600 million and EUR 750 million”The Salzgitter Group and its management holding company Salzgitter AG are the corporate descendants of the Ilseder Hütte Corporation founded in 1858 in Lower Saxony in Germany'1595 - Ilsenburger Kupfer-hammer1890 - Mannesmannröhren -Werke1897 -Lothringer Hüttenverein1923 - Klöckner-Werke AG1937 - Reichswerke AG für Erzbergbau und Eisenhütten "Hermann Göring"1937 – 1964 - Salzgitter Hüttenwerk AG1950 - Hüttenwerk Watenstedt-Salzgitter GmbH1952/53 - Hüttenwerk Salzgitter AG1970 – Stahlwerke Peine-Salzgitter AG1990 - Walzwerk Ilsenburg GmbH1992 - Preussag Stahl AG1998 - Salzgitter AGSalzgitter’s Business Units---------------------------------Strip SteelPlate & Section SteelMannesmannTradingTechnology
German steel maker Salzgitter Group has achieved pre-tax profit of EUR 706.7 million in 2021 as compared to loss of EUR 196.4 million in 2020. The Strip Steel & Trading business units made major contributions to the substantial improvement in profit. Furthermore, the sections segment reported an outstanding result despite the massive increase in energy prices and the Technology Business Unit also significantly lifted its pre-tax profit. The result also includes a contribution of EUR 217.1 million from Aurubis AG. A countertrend emanated in particular from impairment of EUR 235.1 million in the Mannesmann Business Unit.Outlook----------Salzgitter aid “While we assess the probability of another pandemic-induced plunge in the economy as rather unlikely, virtually unquantifiable forecast risks consist of the extremely high energy costs and the threat of further price increases, also against the backdrop of the uncertainty surrounding the current geopolitical hazards. Moreover, as in recent years, we make reference to the fact that opportunities and risks from currently unforeseeable trends in selling prices, input material prices and capacity level developments, as well as exchange rate fluctuations, may considerably affect performance in the course of the financial year 2022. However, in view of the decidedly encouraging start to the year and the sustained, strong profit trend, above all in the strip steel business, Salzgitter anticipate the following for the Salzgitter Group in the financial year 2022An increase in sales to just under EUR 11 billion as against EUR 9.8 billion in 2021A pre-tax profit EBT of between EUR 600 million and EUR 750 million”The Salzgitter Group and its management holding company Salzgitter AG are the corporate descendants of the Ilseder Hütte Corporation founded in 1858 in Lower Saxony in Germany'1595 - Ilsenburger Kupfer-hammer1890 - Mannesmannröhren -Werke1897 -Lothringer Hüttenverein1923 - Klöckner-Werke AG1937 - Reichswerke AG für Erzbergbau und Eisenhütten "Hermann Göring"1937 – 1964 - Salzgitter Hüttenwerk AG1950 - Hüttenwerk Watenstedt-Salzgitter GmbH1952/53 - Hüttenwerk Salzgitter AG1970 – Stahlwerke Peine-Salzgitter AG1990 - Walzwerk Ilsenburg GmbH1992 - Preussag Stahl AG1998 - Salzgitter AGSalzgitter’s Business Units---------------------------------Strip SteelPlate & Section SteelMannesmannTradingTechnology
