Germany-based steelmaker Salzgitter Group has announced its financial results for the first quarter of 2022.
The company posted a net profit of €368.8 million for the first quarter, compared to a net profit of €76.6 million in the same quarter of the previous year, while the company’s sales revenues amounted to €3.35 billion, up by 60.2 percent year on year. The company’s EBITDA in the given period rose to €548.1 million compared to €202.8 million in the same quarter of the previous year.
Meanwhile, the company’s crude steel production totaled 1.71 million mt in the first quarter, up by 4.2 percent year on year.
According to the company’s statement, the company will commission a new hot dip galvanizing line and its first hydrogen and natural-gas-fueled direct reduction plant within a few months.
As for 2022, the company expects its sales revenue to be €11 billion, unchanged from the previous guidance, and pre-tax profit to be between €750 million and €900 million.