Tous Actualités
Suivre
Abonner Salzgitter AG

Salzgitter AG

EANS-News: The Salzgitter Group masters the challenges of the financial crisis with assuredness

Salzgitter (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Financial Figures/Balance Sheet/Key data
2009 will go down as one of the most
difficult financial years in the 150-year history of the Salzgitter 
Group. During the first nine months the Group had to absorb a 
dramatic slump in demand for rolled steel products, among other 
occurrences. Thanks, on the one hand, to the sound and broad business
base and the healthy financial position of the company and, on the 
other, to a program of swiftly implemented urgent measures to 
stabilize performance, all the challenges posed by the crisis were 
mastered with aplomb. With the onset of economic recovery, the Group 
was again generating a positive operating profit in the fourth 
quarter.
External sales by Division (EUR million):
FY 2009   (FY 2008)
Steel                       1,673.6   (3,001.7)
Trading                     3,038.7   (5,621.7)
Tubes                       2,044.6   (2,172.5)
Services                      302.9     (519.3)
Technology                    717.6   (1.037.9)
Other                          40.6     (146.0)
Group                       7,818.0  (12,499.2)
Earnings before tax by Division (EUR million):
FY 2009   (FY 2008)
Steel                        -373.5     (545.6)
Trading                      -128.0     (150.8)
Tubes                         104.0     (311.8)
Services                        8.2      (23.9)
Technology                   -210.4       (3.8)
Other/Consolidation           103.3     (-32.5)
Group                        -496.5   (1,003.4)
As the tail-end effects of the financial crisis are still being felt 
in the current year and cause jitteriness in the relevant sales and 
procurement markets, providing a reliable, quantified outlook for 
sales and the result of the Salzgitter Group is naturally not 
possible. It is, however, foreseeable that there will be an 
improvement in the economic situation of most of the Group companies.
The recovery of these steel companies, which depends on capacity 
utilization, should be able to partly compensate for a selling 
price-induced lower result in the Tubes Division. We therefore expect
our Group to generate a positive pre-tax result in the double-digit 
million Euro range. There are nonetheless considerable risks, as 
before: alongside the foreseeable increase in the cost of raw 
materials, the recovery of the steel and mechanical engineering 
markets is still subject to uncertainties.
As in recent years, we make reference to the fact that opportunities 
and risks from currently unforeseeable trends in selling prices, 
input materials and capacity level developments, as well as changes 
in the currency parity, may considerably affect performance in the 
course of the financial year 2010. The resulting fluctuation in the 
consolidated pre-tax result may, as current events show, be within a 
considerable range, either to the positive or to the negative. The 
dimensions of this range become clear if one considers that, with 
around 10 million tons of steel products sold by the Steel, Trading 
and Tubes divisions, an average EUR 50 contraction in the margin per 
ton is sufficient to cause a variation in the annual result of more 
than EUR 500 million.
More information can be found in the full press release published 
today (see www.salzgitter-ag.de).
end of announcement                               euro adhoc

Further inquiry note:

Bernhard Kleinermann
Tel.: +49 (0) 5341 21-1852
e-mail: ir@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: DAX, Midcap Market Index, CDAX, Classic All Share, Prime All
Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Hannover / regulated dealing

Plus de actualités: Salzgitter AG
Plus de actualités: Salzgitter AG