Germany-based steelmaker Salzgitter Group has announced its financial results for the first half of the current year, posting a net profit of €9.3 million, compared to the net profit of €41.3 million in the same period of 2015.
Salzgitter's sales revenues amounted to €3.96 billion in the first six months, decreasing by 12.4 percent year on year, while the company's EBITDA totaled €224.1 million, down 20 percent compared to the first half of the previous year.
For 2016, Salzgitter expects a decline in sales to between €8.0 billion and €8.5 billion from sales of €8.6 billion in the previous year and an increase in pre-tax profit to between €30 million and €60 million from €13 million in 2015.