Germany-based steelmaker Salzgitter Group has announced its financial results for the first nine months of the current year.
The company posted a net profit of €945.8 million for the first nine months this year, compared to a net profit of €467.7 million in the same period of the previous year, while the company’s sales revenues amounted to €9.76 billion, up by 39.4 percent year on year. The company’s EBITDA in the given period rose to €1.39 billion compared to €866.8 million in the same period of the previous year.
In the January-September period, the company’s crude steel production totaled 4.76 million mt, down by six percent year on year.
Meanwhile, in September the state government of Lower Saxony and the German federal government signed an agreement to share the cost of funding the company’s SALCOS® - Salzgitter Low CO2 Steelmaking program, as SteelOrbis previously reported. This agreement was signed following the approval of the company’s supervisory board for the investment of €723 million for SALCOS®.
As for 2022, the company expects its sales revenue to be €13 billion and EBITDA to be between €1 billion and €1.2 billion, compared to the previous guidance between €1.4 billion and €1.6 billion. This guidance is based on the assumption of the ongoing, unlimited availability of natural gas as a prerequisite for maintaining production.