PR Newswire/euro adhoc/
EANS-Adhoc: Salzgitter AG / The Salzgitter Group adjusts its annual forecast in
line with the provisional 9-months figures
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
According to the key data now available for the interim accounts for the first
nine months of the financial year 2012, the Salzgitter Group will record
negative earnings before tax (EBT) of around EUR -25 million in the third
quarter (Q3 2011: EBT EUR +39.2 million). This development is mainly
attributable to unsatisfactory results in the Steel Division. The results
achieved by the other divisions are in line with expectations.
The Group will therefore close the 9-months period of 2012 with a pre-tax loss
of around EUR -43 million (9 months 2011: EBT EUR +169.1 million).
Consolidated external sales climbed by 9 % to EUR 8.0 billion in the reporting
period (9 months 2011: EUR 7.3 billion).
Along with the ailing European steel market impacted by the general economic
climate, the business activities of German steel processors and traders have
also recently lost momentum. As, therefore, a seasonal recovery of the steel
market has failed to materialize in the second half of the year, it has so far
not been possible to implement the price increases urgently required in the face
of the persistently high raw materials and energy costs.
Given these framework conditions, we see the need to adjust the forecast for the
year as a whole and now anticipate a pre-tax result around breakeven.
More detailed information can be found in the press release and the Interim
Report on the first nine months of the current financial year, both of which
will be released on November 14, 2012.
Some of the statements made in this report possess the character of forecasts or
may be interpreted as such. They are made upon the best of information and
belief and by their nature are subject to the proviso that no unforeseeable
deterioration occurs in the economy or in the specific market situation
pertaining to the division companies, but rather that the underlying bases of
plans and outlooks prove to be accurate as expected in terms of their scope and
timing. The company undertakes no obligation to update any forward-looking
Further inquiry note:
Deputy Head of Investor Relations
+49 (0) 5341/21-6105
issuer: Salzgitter AG
phone: +49 (0) 5341-21-3783
sector: Iron & Steel
indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
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-0- Nov/05/2012 16:29 GMT
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