Germany-based steelmaker Salzgitter Group has announced preliminary financial results for the first half of the current year.
Salzgitter generated a pre-tax profit of €80.2 million, compared to a net loss of €4.2 million in the same period of the previous year, on the back of almost unchanged external sales of €4.52 billion, down 0.4 percent year on year.
According to Salzgitter, during the second half of the year, a large blast furnace will be relined at the Salzgitter plant. Due to the resulting negative impact on earnings, the company’s guidance for the full year remains unchanged for a consolidated pre-tax result in the lower to mid double-digit million euro range.