Salzgitter posted pre-tax profit in 2021 of €707 million ($807m), on revenue of €9.8 billion, versus a loss of €196m in 2020, Kallanish learns from an ad-hoc statement.
Looking ahead, the German group speaks of a “decidedly encouraging start to the new year” and believes in a sustained, strong profit trend predominantly in the strip steel business. It thus anticipates an increase in 2022 revenue to just under €11 billion and a pre-tax profit of between €600m and €750m.
Salzgitter assesses the probability of another pandemic-induced plunge in the economy as rather unlikely. However, it warns of virtually unquantifiable forecast risks stemming from extremely high energy costs and the threat of further price increases, as well as uncertainty surrounding the current geopolitical hazards.
The company underlines that its sections segment also reported an outstanding result despite the massive increase in energy prices, which badly hit the electric arc furnace mill for sections in Peine.
The complete annual report for 2021 will be published on 21 March.
Christian Koehl Germany