Salzgitter’s sales revenues up 33.1% in Jan-Sept

Friday, 12 November 2021 11:47:45 (GMT+3)   |   Istanbul
       

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 €467.7 million for the first nine months this year, compared to a net loss of €243.0 million in the same period of the previous year, while the company’s sales revenues amounted to €7 billion, up by 33.1 percent year on year. The company’s EBITDA in the given period rose to €866.8 million compared to €35.5 million in the same period of the previous year.

Meanwhile, the company’s crude steel production totaled 5.07 million mt in the first nine months of the year, up by 17.1 percent year on year.

The company stated that it expects to be able to commence hydrogen-based steel production as early as the end of 2025 and, by 2026, to already be producing over one million mt of steel based on this concept.

As for 2021, the company expects its sales revenue to be over €9 billion and pre-tax profit to be between €600 million and €700 million.


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