Germany-based steelmaker Salzgitter Group has announced its financial results for 2017, stating that, against the backdrop of a significant improvement in its strip steel business but a nevertheless challenging market environment, it closed the financial year 2017 with its highest pre-tax profit totaling €238 million since the onset of the financial market crisis.
In 2017, Salzgitter recorded a net profit of €193.6 million, compared to a net profit of €56.8 million in 2016, while the company's sales revenues amounted to €8.99 billion, up 13.7 percent year on year, mainly on the back of higher selling prices.
According to Salzgitter’s statement, given the good start to the new financial year, with brighter prospects in a number of business lines, the generally still-challenging market conditions and ongoing positive effects from the programs of measures and to promote growth, the company anticipates a slight increase in sales to above €9 billion and a pre-tax profit of between €200 million and €250 million for the current year.