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.


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