Germany-based steelmaker Salzgitter Group has announced its financial results for the first quarter of the current year, posting a net profit of €65.2 million, rising by 33.8 percent compared to the corresponding quarter of 2017.
Salzgitter's export sales revenues amounted to €2.3 billion in the first quarter this year, decreasing by two percent year on year, while the company's EBITDA totaled €193 million, rising by 4.4 percent compared to the first quarter of the previous year.
Salzgitter stated that, given the good start to the year, the generally positive business outlook, as well as the planned further effects of the implemented measures and growth promotion measures, it has lifted its earnings forecast for the full year. Accordingly, the company expects a slight increase in sales to above €9 billion and a pre-tax profit of between €250 million and €300 million for the current year.