German steel maker Salzgitter Group has generated a pre-tax profit of EUR 465.3 million in January-Match 2022 quarter, the highest quarterly operating result in the history of the company. The prices of rolled steel products at a record level sent profit up by leaps and bounds for the Steel Production and Trading business units that were the key drivers behind the gratifying earnings trend in the period under review. The Steel Processing and Technology business units, along with Industrial Participations & Consolidation, also contributed positive results. , Salzgitter AG’s Chief Executive Officer Mr Gunnar Groebler said “The excellent start to the new financial year gives us tailwind for the Salzgitter AG 2030 strategy presented in February. In a few months, we will already be commissioning the new hot dip galvanizing line and the first hydrogenand natural-gas-fueled direct reduction plant, which are two groundbreaking investment projects in the Steel Production Business Unit. While the hot dip galvanizing line reinforces our market position as a producer of high quality galvanized sheet, we will gain the necessary knowledge through the DRI plant for producing in DRI plants on industrial scale in just a few years’ time.”The Salzgitter Group’s external sales saw price-induced growth of 60 % to EUR 3,349.9 million (Q1 2021: EUR 2,094.1 million)Pre-tax profit quadrupled to EUR 465.3 million (Q1 2021: EUR 117.3 million)Aftertax profir stood at EUR 368.8 million (Q1 2021: EUR 76.6 million)Outlook iThanks to the strong first-quarter we now anticipate the following for the Salzgitter Group in the financial year 2022:1. An increase in sales to just under EUR 11 billion2. A pre-tax profit of EUR 750-900 million
German steel maker Salzgitter Group has generated a pre-tax profit of EUR 465.3 million in January-Match 2022 quarter, the highest quarterly operating result in the history of the company. The prices of rolled steel products at a record level sent profit up by leaps and bounds for the Steel Production and Trading business units that were the key drivers behind the gratifying earnings trend in the period under review. The Steel Processing and Technology business units, along with Industrial Participations & Consolidation, also contributed positive results. , Salzgitter AG’s Chief Executive Officer Mr Gunnar Groebler said “The excellent start to the new financial year gives us tailwind for the Salzgitter AG 2030 strategy presented in February. In a few months, we will already be commissioning the new hot dip galvanizing line and the first hydrogenand natural-gas-fueled direct reduction plant, which are two groundbreaking investment projects in the Steel Production Business Unit. While the hot dip galvanizing line reinforces our market position as a producer of high quality galvanized sheet, we will gain the necessary knowledge through the DRI plant for producing in DRI plants on industrial scale in just a few years’ time.”The Salzgitter Group’s external sales saw price-induced growth of 60 % to EUR 3,349.9 million (Q1 2021: EUR 2,094.1 million)Pre-tax profit quadrupled to EUR 465.3 million (Q1 2021: EUR 117.3 million)Aftertax profir stood at EUR 368.8 million (Q1 2021: EUR 76.6 million)Outlook iThanks to the strong first-quarter we now anticipate the following for the Salzgitter Group in the financial year 2022:1. An increase in sales to just under EUR 11 billion2. A pre-tax profit of EUR 750-900 million
