Germany-based steelmaker Salzgitter Group has announced its consolidated financial and operational results for the third quarter and the first nine months of this year.
In the given quarter, the company posted a net loss of €180.3 million, compared to a net profit of €32.7 million recorded in the given quarter of last year, while its sales revenues decreased by 3.3 percent year on year to €2.6 billion. In addition, Salzgitter’s EBITDA amounted to €87 million, down by 40.7 percent from €146.7 million recorded in the third quarter of 2023.
In the third quarter, the company’s crude steel production totaled 1.53 million, up by 16.5 percent year on year.
In the January-September period, Salzgitter reported a net loss of €197.7 million, compared to a net profit of €193.7 million recorded in the same period of 2023, while its sales revenues decreased by 8.1 percent year on year to €7.73 billion. In addition, the company’s EBITDA came to €320.6 million, down by 44.3 percent from €576 million recorded in the first nine months of last year.
Meanwhile, in the given period, Salzgitter’s crude steel output rose by 9.2 percent year on year to 4.86 million mt.
As for 2024, the company expects its sales revenue to be between €9.5 billion and 10 billion and EBITDA to be between €275 million and €325 million.