Salzgitter : Ad-hoc release dated 06.11.2019

Salzgitter, November 6, 2019

Salzgitter AG

Investor Relations

38223 Salzgitter

Germany

Tel.: [phone]

Telefax: +49 (0)[e-mail]

Salzgitter Group delivers positive nine-month result

According to the still preliminary figures now available, the Salzgitter Group recorded a pre- tax profit of € 40.7 million (9M 2018: € 284.6 million) in the first nine months of 2019, thus exceeding current market expectations. The result includes both the risk provision that had been raised by € 141.0 million as of September 30, 2019 in connection with the desired, mutually agreed end to the investigations conducted on the grounds of suspected cartel arrangements regarding heavy plate and strip steel products, as well as the release of € 48.8 million in provisions at the Strip Steel and Plate / Section Steel business units. It also includes a contribution of € 78.1 million from the participating investment in Aurubis AG accounted for using the equity method (9M 2018: € 29.2 million).

The Salzgitter Group's external sales declined to € 6.6 billion (9M 2018: € 6.9 billion) due above all to selling prices.

We affirm our earnings forecast for the financial year 2019, adjusted on September 26. Against the backdrop of restructuring expenses still to be determined for the implementation of the "FitStructure 2.0" profit improvement program, we therefore anticipate a pre-tax loss in the mid-double-digit million euro range and assume lower external sales of under € 9.0 billion compared with the previous year.

Further details on the financial statements for first the nine months of the financial year 2019 will be published on November 13, 2019, as scheduled.

Contact:Markus Heidler

Head of Investor Relations Salzgitter AG Telephone: [phone]e-mail:[e-mail]