Salzgitter AG: Diversification Yields Satisfactory Results Amidst Tough Market

• Salzgitter AG reports a significant reduction in net financial debt and proposes a dividend of €0.45 per share for the Annual General Meeting of Shareholders.
• The company forecasts sales between €10.5 and €11.0 billion, EBITDA between €700 million and €750 million, and EBT between €250 million and €300 million for the financial year 2024.
• Despite high inflation rates and cooling economic momentum, the company generated EBITDA of €677.0 million and a pre-tax profit of €238.4 million in the financial year 2023.
• The company's external sales decreased to €10.8 billion, primarily due to the downtrend in average revenue for steel products.
• The Group’s external sales declined by 14% to €10.8 billion due to lower steel prices, resulting in a contraction of EBITDA to €677.0 million and earnings before taxes to €238.4 million.
• The company's CFO, Burkhard Becker, attributes the pre-tax profit of €238 million to rigorous cost optimization and the broad positioning of the Salzgitter Group.

The next important date, Publication Annual Financial Report, at Salzgitter is on 15.03.2024.

The price of Salzgitter at the time of the news was 23,930EUR and was up +1,10 % compared with the previous day.
23 minutes after the article was published, the price was 23,700EUR this corresponds to a minus of -0,96 % since publication.
At this time, the index SDAX was at 13.900,98PKT (-0,76 %).

Salzgitter

+5,34 %

+4,79 %

+2,30 %

-7,60 %

-30,98 %

-12,32 %

-17,18 %

-21,23 %

+76,26 %

ISIN:DE0006202005WKN:620200

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