Salzgitter, Germany's second-largest steel group, suffered a decline in sales and profits in the first half of the year.

Salzgitter recorded external sales of 5.2 (previous year: 5.8) billion euros in the first six months of 2024, the Thyssenkrupp rival announced on Friday on the basis of preliminary figures. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell to EUR 233.6 (429.3) million. Pre-tax profit shrank to 11.5 (211) million euros. In contrast to the previous year's period, the result includes a contribution of 70.6 million euros from the investment in Aurubis AG, which is accounted for using the equity method. Salzgitter intends to publish further details on the figures on August 12. Salzgitter and its larger rival Thyssenkrupp have suffered in the past from the sluggish economy and falling prices.

(Report by Matthias Inverardi, edited by Olaf Brenner. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)