Salzgitter AG Announces Satisfactory Annual Results Amidst a Tough Market

Salzgitter AG reported satisfactory financial outcomes for the fiscal year, showcasing resilience in a challenging economic landscape marked by high inflation and a slow economic pace. The announcement made on March 15, 2024, highlighted a notable reduction in net financial debt and a proposed dividend of €0.45 per share for the upcoming Annual General Meeting of Shareholders.

The company anticipates its sales to be between €10.5 and €11.0 billion for the financial year 2024, with earnings before interest, taxes, depreciation, and amortization (EBITDA) expected to range from €700 million to €750 million. Pre-tax profits are forecasted to be between €250 million and €300 million.

The diverse portfolio of Salzgitter AG, including the Steel Production, Steel Processing, and Technology business units, played a crucial role in achieving an EBITDA of €677.0 million and a pre-tax profit of €238.4 million despite the downward trend in steel product prices.

The company’s resilience and strategic financial planning were underlined by a significant reduction in net financial debt and an increased equity ratio, marking a strong financial position even in adverse market conditions. Chief Financial Officer Burkhard Becker highlighted robust cost optimization and the benefits of the company's diverse positioning as key to the satisfactory results.

CEO Gunnar Groebler emphasized the progress made in the company's SALCOS® decarbonization program and commitment to circular solutions, marking key steps towards sustainable transformation. The leadership also acknowledged the dedication of its workforce and bid farewell to CFO Burkhard Becker, retiring after 16 years of service.