Salzgitter : revises its 2018 forecast upward following strong start to the year

According to the still preliminary figures now available, the Salzgitter Group generated a pre-tax profit of EUR 95.9 million in the first quarter of 2018, thereby exceeding current market expectations. Along with the gratifying result of the Strip Steel segment, all other business units contributed to this performance, also thanks to the rigorously implemented programs within the Group.

The result includes EUR 7.5 million in after-tax profit from Aurubis AG, an investment included at equity (Q1 2017: EUR 33.6 million). The external sales of the Salzgitter Group came in at EUR 2.3 billion, thus remaining virtually stable compared with the first quarter of 2017 (EUR 2.4 billion).

Given the good start to the year, the generally positive business outlook, as well as the planned further effects of the programs of measures and to promote growth, Salzgitter AG is lifting its earnings forecast for the financial year 2018. We now anticipate:

- a pre-tax profit of between EUR 250 million and EUR 300 million (previously: between EUR 200 million and EUR 250 million; previous year: EUR 238 million).

We make explicit reference to the fact that imponderables, including changes in the cost of raw materials, precious metal prices and exchange rates, along with global trade policy measures, may have a considerable impact over the course of the financial year 2018.

Further details on the financial statements for the first quarter of 2018 will be published on May 15, 2018, as scheduled.