Germany-based steelmaker Salzgitter Group has announced its financial results for the first nine months of the current year, posting a net profit of €14.6 million, compared to a net profit of €3.6 million in the corresponding period of 2015.
Salzgitter's sales revenues amounted to €5.86 billion in the January-September period this year, down 12.4 percent year on year, while the company's EBITDA totaled €336 million, increasing by 10 percent compared to the first nine months of 2015.
Salzgitter stated that its Strip Steel Business Unit anticipates a marginally negative result in the fourth quarter of this year. Although selling prices for flat steel products will continue to rise, a shortfall in shipment volumes in December for seasonal reasons and due to the scheduled downtime of a facility will prevent breakeven from being achieved. Meanwhile, the company also stated that its Plate/Section Steel Business Unit will also be impacted adversely by ruinous price competition, triggered by the flood of imports in the first half of the year.