Salzgitter posts increase in pre-tax profit for January-September

Friday, 04 November 2016 16:12:58 (GMT+3)   |   Istanbul
       

Germany-based steelmaker Salzgitter Group has announced its preliminary financial results for the first nine months of the current year, generating €5.9 billion of external sales, decreasing from €6.7 billion in the same period of 2015. In the January-September period this year, the company’s pre-tax profit amounted to €21.1 million, increasing from the €15.6 million recorded in the corresponding period of last year. 
 
Salzgitter stated that the third quarter of the current year is customarily impacted by planned maintenance and repair downtime and the seasonal decline in customer demand developed somewhat more modestly, as expected. The company’s positive profit trend has stabilized overall thanks to the profound success of the restructuring projects implemented and the effects of the first EU antidumping measures.
 
For the full year of 2016, Salzgitter anticipates an increase in pre-tax profit compared to 2015 to between €30 million and €60 million.

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