Salzgitter’s sales revenues up 37.7% in 2021, higher revenue for 2022 expected

Tuesday, 22 March 2022 11:49:12 (GMT+3)   |   Istanbul
       

Germany-based steelmaker Salzgitter Group has announced its financial results for 2021.

The company posted a net profit of €586.1 million for last year, compared to a net loss of €273.9 million in 2020, while the company’s sales revenues amounted to €9.76 billion, up by 37.7 percent year on year. The company’s EBITDA in the given period rose to €1.26 billion compared to €176.1 million in the previous year.

Meanwhile, the company’s crude steel production totaled 6.75 million mt in 2021, up by 11.8 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 it aims to fully implement hydrogen-based production by 2033.

As for 2022, the company expects its sales revenue to be €11 billion and pre-tax profit to be between €600 million and €750 million.


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