Steel group Salzgitter gives details about the good start to the year

The Salzgitter steel group today presents detailed figures for the start of the new financial year. At the end of April, thanks to positive developments in the flat steel and trading sectors, the company had already presented good preliminary figures. In the first quarter, Salzgitter AG achieved a pre-tax profit of 117,3 million euros and, according to its own statements, exceeded market expectations.

In an ad hoc announcement, the AG informed that significantly more profit was expected for 2021 than previously forecast. The pre-tax result for the current year should now be between 300 and 400 million euros. So far, the second largest German steel manufacturer after Thyssenkrupp had assumed 150 to 200 million euros. The tailwind was justified with higher steel prices. In 2020, Salzgitter still posted losses.