Salzgitter lifts annual guidance again

Salzgitter Group has again lifted profit guidance for the full financial year 2021, and now expects its best pre-tax result in a decade.

Following a strong first half-year, the group’s good performance has continued over the summer quarter. Salzgitter previously assumed a pre-tax profit of between €400 million and €670m ($473-792m). This range has now been lifted to €600-700m, Kallanish notes.

The sustained uptrend in prices and demand is especially reflected in the excellent results of the Strip Steel and Trading business units, Salzgitter notes. In the Plate/Section business, margins improved as well, leading to better results than formerly anticipated.

Christian Koehl Germany