Salzgitter, June 14, 2019
Tel.: +49 (0)5341-21-1852
Telefax: +49 (0)email@example.com
Disclosure of insider information pursuant to Article 17 MAR
SALZGITTER AG: The medium-term shortfall in CO2 allowances has been compensated for the most part at the subsidiaries of the Salzgitter Group; the current market value of the CO2 allowances purchased for this purpose exceeds the figure accounted for in the balance sheet by around € 300 million
The fourth period of the EU emission trading scheme will commence on January 1, 2021 and will run up until and including 2030. Following the finally determined, externally verified data for our applications for the free allocation of CO2 allowances that are due for submission at the end of June, we assume that the allowances purchased by us as a precautionary measure will compensate the estimated shortfall for the most part in respect of the subsidiary companies of Salzgitter AG that are subject to the emission trading system. As it is not certain whether - and in the event when - technical CO2 mitigation options will be available, this procedure considered to be of an equal standing by the emission trading system was taken. The market value of all CO2 allowances acquired as a precautionary measure exceeds the figure accounted for in the balance sheet as of today's date by around € 300 million. They therefore constitute an asset that cannot be derived from the balance sheet. Consequently, we decided to publish this information in the form of an ad-hoc release.
We make reference to the fact that, on the one hand, the value of the CO2 allowances acquired is a stock market value and is therefore subject to fluctuations. On the other, the actual amount of the shortfall of free allocation can only be determined once the allocation procedure is com- plete. In addition, it is ultimately based on the actual need for allowances depending on production over the course of the fourth trading period.
Head of Investor Relations Salzgitter AG Telephone: +49 (0)5341 / 21 -1852e-mail:firstname.lastname@example.org
Salzgitter AG published this content on 14 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2019 09:23:02 UTC