Salzgitter raises its earnings forecast for 2021 amid higher prices

Wednesday, 28 April 2021 14:17:13 (GMT+3)   |   Istanbul

Germany-based steelmaker Salzgitter Group has announced a pre-tax profit of €117.3 million for the first quarter this year according to its preliminary figures, owing to the gratifying results of the Strip Steel and Trading business units, as well as a contribution of €42.5 million from Aurubis AG, a participating investment included at equity. Almost all the company’s segments reported a steady increase in their monthly results in the given period.

Salzgitter stated that its sales revenues amounted to €2.1 billion in the first quarter of this year, remaining stable compared to the first quarter of 2020.

As for the full year of 2021, the company expects a pre-tax profit between €300 million and €400 million, against the previous forecast of €150-200 million in view of the good start to the year and the dynamic increase in rolled steel prices.

Most Recent Related Articles

Salzgitter posts profit for Q1, expects better results for 2021

ThyssenKrupp raises earnings and sales forecast for FY 2020-21

ArcelorMittal’s net profit nearly doubles in Q1 from Q4 level

Thyssenkrupp Steel collaborates to set up international hydrogen supply chains

SSAB posts net profit for Q1, expects strong demand in Q2