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MarketScreener Homepage  >  Equities  >  Xetra  >  Salzgitter AG    SZG   DE0006202005

SALZGITTER AG

(SZG)
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Salzgitter : Ad-hoc release dated 05.02.2019

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04/08/2019 | 06:13am EDT

Salzgitter, February 5, 2019

Salzgitter AG

Investor Relations

38223 Salzgitter

Germany

Tel.: +49 (0)5341-21-1852

Telefax: +49 (0)5341-21-2570ir@salzgitter-ag.de

Disclosure of insider information pursuant to Article 17 MAR

SALZGITTER AG

The Salzgitter Group releases the preliminary figures of the financial year 2018 along with the sales and profit forecast for the financial year 2019

According to the still preliminary figures now available, the Salzgitter Group generated a pre-tax profit of € 347.3 million in the financial year 2018 (2017: € 238.0 million), marking the fifth earnings increase in a row and the best pre-tax result in the last ten years. Along with the performance of the Strip Steel Business Unit, the gratifying contributions first and foremost by the Trading, Technology, and Plate / Section Steel business units, as well as approximately € 150 million (FY 2017: € 97 million) in additional earnings improvement potential realized for the first time from the Group's profit improvement programs contributed to this development. The result includes a netted € -63.4 million burden on earnings from special effects (FY 2017: € -82.9 mil- lion), among others as precautionary measure a provision pertaining to the known and ongoing investigation of the German Federal Cartel Office against plate and strip steel producers as well as adjustments to fixed asssets of Mannesmann Precision Tubes Group.

In view of the gloomier sentiment and numerous economic and political uncertainties, we anticipate the following for the Salzgitter Group in the financial year 2019:

a slight increase in sales to above the € 9.5 billion mark (FY 2018: € 9.3 billion),

a pre-tax profit of between € 125 million and € 175 million (2018: € 347 million) and

a return on capital employed (ROCE) that is notably lower than the previous year's figure (FY 2018: 10.4%).

The EBT range we predict therefore moves within a corridor below the average of the current market expectations. Against this backdrop and the generally still challenging environment, the

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programs of measures successfully implemented since 2013 are to be continued in an updated form.

The 2018 annual financial statements are currently being audited by the external auditor and must subsequently be approved by the Supervisory Board. The key figures for the financial year 2018 and further details will be published, as planned, on February 27, 2019.

Contact:Markus Heidler

Head of Investor Relations Salzgitter AG Telephone: +49 (0)5341 / 21 -1852e-mail:heidler.m@salzgitter-ag.de Internet: www.salzgitter-ag.com

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Disclaimer

Salzgitter AG published this content on 08 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 April 2019 10:12:03 UTC

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