Salzgitter expects slight increase in sales in 2019

Monday, 03 June 2019 08:55:21 (GMT+3)   |   Istanbul

Germany-based steelmaker Salzgitter Group has announced its financial results for the first quarter of the current year, posting a net profit of €96.7 million, compared to a net profit of €65.2 million in the same period of 2018.

Salzgitter's external sales revenues amounted to €2.3 billion in the first three months, remaining almost stable year on year, while the company's EBITDA totaled €228.3 million, up 18.3 percent compared to the first quarter of the previous year.

For the full year, Salzgitter expects a slight increase in sales to above the € 9.5 billion mark. According to the company, sector-specific risks are inherent in competitive distortions on the international market, in massive overcapacities, in US-imposed special import duties on steel products, and in the associated import pressure within the EU.

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