Germany-based steelmaker Salzgitter Group has announced a pre-tax profit of €183 million for the first quarter this year according to its preliminary figures, exceeding current market expectations. This performance was attributable to the gratifying results of the Steel Production, Steel Processing and Technology business units, as well as a contribution of €29 million from Aurubis AG, a participating investment included at equity.
Despite the strong start to the year, Salzgitter has maintained its sales and earnings forecast for 2023 announced on March 27, due to the volatile political and economic environment.
For 2023, the company expects its sales revenue to be €13 billion and pre-tax profit to be between €300 million and €400 million.
