Company Announcements

DGAP-Adhoc: Salzgitter Aktiengesellschaft: Salzgitter Group raises its earnings forecast after a strong first quarter

Source: EQS

DGAP-Ad-hoc: Salzgitter Aktiengesellschaft / Key word(s): Forecast/Quarter Results
Salzgitter Aktiengesellschaft: Salzgitter Group raises its earnings forecast after a strong first quarter

21-Apr-2022 / 17:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


According to the preliminary figures now available, the Salzgitter Group generated earnings before taxes of € 465 million in the first quarter of 2022 (Q1 2021: € 117 million), thereby notably exceeding current market expectations. This performance was especially attributable to the gratifying results of the Steel Production and Trading business units, as well as to a contribution of € 62 million (Q1 2021: € 43 million) from Aurubis AG, a participating investment included at equity (IFRS accounting). The Salzgitter Group's external sales rose by around 60 percent to € 3.4 billion compared with the first quarter of 2021 (€ 2.1 billion).

In view of the strong first quarter, we lift the earnings guidance for the financial year 2022 and now anticipate the following for the Salzgitter Group:

- earnings before taxes of between € 750 million and € 900 million.

Our guidance presupposes that raw material and energy costs as well as steel prices remain at levels seen to date and anticipates the continuing unrestricted availability of natural gas as a prerequisite for maintaining production. We would also point to the currently barely quantifiable forecasting risks in association with the war in Ukraine.

Further details on the financial statements for the first quarter will be published on May 12, 2022, as scheduled.

Contact:

Markus Heidler
Head of Investor Relations
Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter

Phone +49 5341 21-6105
E-Mail ir@salzgitter-ag.de

21-Apr-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Salzgitter Aktiengesellschaft
Eisenhüttenstraße 99
38239 Salzgitter
Germany
Phone: +49 5341 21-01
Fax: +49 5341 21-2727
E-mail: info@salzgitter-ag.de
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: 1332405

 
End of Announcement DGAP News Service

1332405  21-Apr-2022 CET/CEST

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