Germany-based steelmaker Salzgitter Group has announced its financial results for the first quarter of 2023.
The company posted a net profit of €140.5 million for the first quarter, compared to a net profit of €368.8 million in the same quarter of the previous year, while the company’s sales revenues amounted to €2.98 billion, down by 11 percent year on year due to lower shipments and prices. The company’s EBITDA in the given period fell to €290 million compared to €548.1 million in the same quarter of the previous year.
Meanwhile, the company’s crude steel production totaled 1.58 million mt in the first quarter, down by 7.4 percent year on year.
As for 2023, the company expects its sales revenue to be between €11.5 billion and 12 billion, pre-tax profit to be between €300 million and €400 million, and EBITDA to be between €750 million and €850 million.