Germany-based steelmaker Salzgitter Group has announced its financial results for 2024.
In the given year, the company posted a net loss of €347.9 million, compared to a net profit of €204.1 million in the previous year, while the company’s sales revenue amounted to €10 billion, down by 7.2 percent year on year, due to a decline in average revenues for steel products and a weak order book in its steel unit. In addition, Salzgitter’s EBITDA for 2024 declined to €455.2 million, compared to €677 million in 2023.
In 2024, the company’s crude steel production totaled 6.39 million mt, rose by 11.9 percent from 5.71 million mt recorded in the previous year.
According to Salzgitter’s statement, there is still no end in sight to the stagnation of the German economy in spite of the planned special funds, although the economic stimulus measures put in place by the new federal government might have a positive impact as from the second half of 2025. However, uncertainty is on the rise, particularly with regard to the prospects for exports due to the statements on trade emanating from the new US government.
As for 2025, the company expects its sales revenues to be in the range of €9.5-10 billion and its EBITDA to be in the range of €350-550 million.