Salzgitter AG: Salzgitter Group delivers positive nine-month result
According to the still preliminary figures now available, the Salzgitter Group recorded a pre-tax profit of EUR 40.7 million (9M 2018: EUR 284.6 million) in the first nine months of 2019, thus exceeding current market expectations. The result includes both the risk provision that had been raised by EUR 141.0 million as of September 30, 2019 in connection with the desired, mutually agreed end to the investigations conducted on the grounds of suspected cartel arrangements regarding heavy plate and strip steel products, as well as the release of EUR 48.8 million in provisions at the Strip Steel and Plate / Section Steel business units. It also includes a contribution of EUR 78.1 million from the participating investment in Aurubis AG accounted for using the equity method (9M 2018: EUR 29.2 million).
The Salzgitter Group's external sales declined to EUR 6.6 billion (9M 2018: EUR 6.9 billion) due above all to selling prices.
We affirm our earnings forecast for the financial year 2019, adjusted on September 26. Against the backdrop of restructuring expenses still to be determined for the implementation of the "FitStructure 2.0" profit improvement program, we therefore anticipate a pre-tax loss in the mid-double-digit million euro range and assume lower external sales of under EUR 9.0 billion compared with the previous year.
Further details on the financial statements for first the nine months of the financial year 2019 will be published on November 13, 2019, as scheduled.Contact: Markus Heidler Head of Investor Relations Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Phone +49 5341 21-6105 Fax +49 5341 21-2570 E-Mail firstname.lastname@example.org
06-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter
Germany Phone: +49 5341 21-01 Fax: +49 5341 21-2727 E-mail: email@example.com Internet: www.salzgitter-ag.de ISIN: DE0006202005 WKN: 620200 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 906007 End of Announcement DGAP News Service
906007 06-Nov-2019 CET/CEST