German steel group Salzgitter’s full nine-month results showed net income of 177.2 million euros. Revenue and earnings excluding valuation effects increased, while a bond linked to Aurubis shares generated a valuation expense. The release detailed the effect of consolidation and the contribution from its Aurubis investment, alongside the group’s annual earnings forecasts.
German steel group Salzgitter recorded net income of 177.2 million euros in its full results for the first nine months.[1], [2]
External revenue rose to 7.3298 billion euros from 6.8652 billion euros a year earlier. Excluding valuation effects, earnings before interest, tax, depreciation and amortisation increased from 224 million euros to 659.1 million euros, and pre-tax profit reached 353.5 million euros.[1]
The equity-accounted Aurubis investment contributed 252 million euros, up from 83.5 million euros. A separate valuation expense of 124.2 million euros arose from an exchangeable bond linked to Aurubis shares. After including that expense, reported earnings before interest, tax, depreciation and amortisation stood at 534.9 million euros, with pre-tax profit of 229.3 million euros.[1]
The efficiency programme delivered sustainable effects of 146 million euros, exceeding its annual target of 122 million euros. The net financial position was negative 708.8 million euros. For the year, management forecasts approximately 10 billion euros in revenue. Its earnings target excluding valuation effects is 800–875 million euros before interest, tax, depreciation and amortisation, with pre-tax profit of 400–475 million euros.[1]
