Germany-based steelmaker Salzgitter Group has announced its financial results for the first half of the current year, posting a net profit of €64.7 million, compared to a net profit of €9.3 million in the same period of 2016.
Salzgitter's sales revenues amounted to €4.61 billion in the first six months, increasing by 16.35 percent year on year due to the higher average selling prices of many rolled steel products and driven mainly by its Strip Steel, Plate/Section Steel and Trading business units, while the company's EBITDA totaled €311.3 million, up 38.9 percent compared to the first half of the previous year.
Salzgitter stated that it has delivered the best half-year result since 2011. The excellent performance of its Strip Steel and Trading business units, along with the continued successful implementation of the group’s internal programs, made major contributions to this result.