on Salzgitter AG (isin : DE0006202005)
Salzgitter AG Delivers Pre-Tax Breakeven in First Half of 2024
Salzgitter AG reported a pre-tax breakeven for the first half of 2024. The group recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of €233.6 million and a pre-tax profit of €11.5 million. The challenging economic environment, particularly in Germany, impacted steel-related sectors. However, strong performance from the Technology Business Unit and investment in Aurubis AG supported the overall result.
External sales declined to €5.24 billion from €5.84 billion in H1 2023, mainly due to lower steel prices. The financial results include a significant after-tax contribution of €70.6 million from Aurubis AG. The company anticipates further strategic and structural adjustments to address upcoming challenges and maintain competitiveness.
Salzgitter AG aims to produce green steel by 2026, with the first stage of the SALCOS® transformation program on schedule. Despite economic headwinds, the group's equity ratio remains stable at 45.6%.
R. P.
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