Salzgitter’s revenues down in 2019 amid lower average sales prices

Tuesday, 17 March 2020 13:32:47 (GMT+3)   |   Istanbul
       

Germany-based steelmaker Salzgitter Group has announced its financial results for 2019, declaring a pre-tax loss of €253 million compared to a pre-tax profit of €347 million in 2018.

In 2019, Salzgitter recorded a net loss of €237.3 million, compared to a net profit of €277.7 million in the previous year, while the company's sales revenues amounted to €8.55 billion, down by 7.9 percent year on year, due to lower average selling prices for rolled steel products and the decline in shipment volumes.

Meanwhile, the company’s crude steel production totaled 6..61 million mt in 2019, down by six percent year on year.

Salzgitter anticipates an increase in sales to above €9 billion for the current year. It is expected that unpredictable trends in input material prices, selling prices, capacity level developments, and exchange rate fluctuations may be having some impact on the company’s performance in 2020.  The company said the extent the coronavirus epidemic will impact business cannot be reliably assessed at the present point in time.


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