Salzgitter Reports Strong Results for Q1 of 2021
The Salzgitter Group achieved a pre-tax profit of EUR 117.3 million in the first quarter of the 2021 financial year. With a sustained market recovery and
The Salzgitter Group achieved a pre-tax profit of EUR 117.3 million in the first quarter of the 2021 financial year. With a sustained market recovery and upward trend in steel prices, the positive results of the Strip Steel and Trading business units and the EUR 42.5 million contribution from the investment in Aurubis AG included at equity contributed to this. Almost all segments showed a continuous increase in their monthly results over the course of the quarter.
The external sales of the Salzgitter Group remained stable at EUR 2,094.1 million as compared to EUR 2,108.3 million in Q1 of 2020. Pre tax profit of EUR 117.3 million was generated as against minus EUR 31.4 million in Q1 of 2020. The EUR 76.6 million after-tax results are up from minus EUR 43.7 million in Q1 of 2020.
External sales by business unit
Strip Steel – EUR 606.4 million, up 7% YoY
Plate & Section Steel - EUR 214.4, up 10% YoY
Mannesmann - EUR 256.6 million, minus 13% YoY
Trading - EUR 673.3 million, minus 4% YoY
Technology - EUR 300.9 million, minus 3% YoY
Industrial Participations & Consolidation - EUR 42.5 million, up 12% YoY
Group - EUR 2,094.1 million, minus 1% YoY
Outlook - In view of the good start to the year and the dynamic rise in rolled steel prices, with an explicit reference to the still immanent risk of the corona pandemic, Salzgitter Group expects
A turnover increased to more than EUR 8.5 billion,
A pre-tax profit of between EUR 300-400 million