H1Interim Report 1st Half 2021
Interim Report 1st Half 2021
Table of Contents
1 | |
2 | |
3 | |
3 | |
Strip Steel Business Unit | 6 |
Plate/Section Steel Business Unit | 9 |
Mannesmann Business Unit | 11 |
Trading Business Unit | 13 |
Technology Business Unit | 14 |
Industrial Participations/Consolidation | 15 |
Financial Position and Net Assets | 16 |
Employees | 18 |
Forecast, Opportunities and Risk Report | 19 |
Interim Financial Statements | 22 |
Notes | 28 |
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- Interim Report 1st Half 2021
The Salzgitter Group in Figures
H1 2021 | H1 2020 | +/- | |||||||
Crude steel production | kt | 3,377.6 | 2,952.7 | 424.9 | |||||
External sales | € m | 4,435.5 | 3,631.0 | 804.5 | |||||
Strip Steel Business Unit | € m | 1,198.1 | 902.8 | 295.3 | |||||
Plate/Section Steel Business Unit | € m | 445.5 | 363.2 | 82.3 | |||||
Mannesmann Business Unit | € m | 530.4 | 494.5 | 35.9 | |||||
Trading Business Unit | € m | 1,538.1 | 1,229.2 | 308.9 | |||||
Technology Business Unit | € m | 639.3 | 574.6 | 64.7 | |||||
Industrial Participations/Consolidation | € m | 84.1 | 66.7 | 17.5 | |||||
EBIT before depreciation and amortization (EBITDA) | € m | 478.6 | 49.7 | 428.9 | |||||
Earnings before interest and taxes (EBIT) | € m | 328.7 | -99.0 | 427.7 | |||||
Earnings before taxes (EBT) | € m | 305.7 | -127.8 | 433.5 | |||||
Strip Steel Business Unit | € m | 104.5 | -69.2 | 173.7 | |||||
Plate/Section Steel Business Unit | € m | -26.9 | -27.0 | 0.0 | |||||
Mannesmann Business Unit | € m | -15.5 | -22.7 | 7.2 | |||||
Trading Business Unit | € m | 149.3 | -15.8 | 165.1 | |||||
Technology Business Unit | € m | 32.5 | -10.6 | 43.0 | |||||
Industrial Participations/Consolidation | € m | 61.8 | 17.4 | 44.4 | |||||
Consolidated result | € m | 230.6 | -144.7 | 375.3 | |||||
Earnings per share - basic | € | 4.20 | -2.70 | 6.90 | |||||
Return on capital employed (ROCE)1) | % | 16.4 | -6.3 | 22.7 | |||||
Cash flow from operating activities | € m | 222.1 | -121.5 | 343.6 | |||||
Investments2) | € m | 160.4 | 209.9 | -49.5 | |||||
Depreciation/amortization2) 3) | € m | -149.9 | -148.7 | -1.2 | |||||
Total assets | € m | 9,000.7 | 8,124.4 | 876.3 | |||||
Non-current assets | € m | 4,229.0 | 4,128.0 | 100.9 | |||||
Current assets | € m | 4,771.7 | 3,996.3 | 775.4 | |||||
of which inventories | € m | 2,181.1 | 2,047.0 | 134.1 | |||||
of which cash and cash equivalents | € m | 544.6 | 401.5 | 143.0 | |||||
Equity | € m | 2,998.5 | 2,795.5 | 203.0 | |||||
Liabilities | € m | 6,002.2 | 5,328.9 | 673.3 | |||||
Non-current liabilities | € m | 3,340.2 | 3,564.2 | -224.1 | |||||
Current liabilities | € m | 2,662.0 | 1,764.7 | 897.4 | |||||
of which due to banks4) | € m | 844.7 | 949.1 | -104.4 | |||||
Net financial position on the reporting date5) | € m | -422.5 | -472.3 | 49.8 | |||||
Employees | |||||||||
Personnel expenses | € m | -871.2 | -846.0 | -25.2 | |||||
Core workforce on the reporting date6) | Empl. | 22,414 | 23,009 | -595 | |||||
Total workforce on the reporting date7) | Empl. | 24,026 | 24,653 | -627 | |||||
Disclosure of financial data in compliance with IFRS |
- Annualized
- Excluding financial assets, as from FY 2019 under initial application of IFRS 16 Leases
- Scheduled and unscheduled write-downs
- Current and non-current bank liabilities
- Including investments, e.g. securities and structured investments
- Excl. trainee contracts and excl. non-activeage-relatedpart-time work
- Incl. trainee contracts and incl. non-activeage-relatedpart-time work
Interim Report 1st Half 2021
Profitability of the Group and its Business Units
Earnings Situation within the Group
Q2 2021 | Q2 2020 | H1 2021 | H1 2020 | |||||||
Crude steel production | kt | 1,733.1 | 1,271.2 | 3,377.6 | 2,952.7 | |||||
External sales | € m | 2,341.4 | 1,522.7 | 4,435.5 | 3,631.0 | |||||
EBIT before depreciation and amortization | ||||||||||
(EBITDA) | € m | 275.8 | -7.6 | 478.6 | 49.7 | |||||
Earnings before interest and taxes (EBIT) | € m | 200.1 | -82.1 | 328.7 | -99.0 | |||||
Earnings before taxes (EBT) | € m | 188.4 | -96.4 | 305.7 | -127.8 | |||||
Consolidated result | € m | 154.1 | -101.0 | 230.6 | -144.7 | |||||
Return on capital employed (ROCE)1) | % | 20.1 | -10.0 | 16.4 | -6.3 | |||||
Investments2) | € m | 81.3 | 115.0 | 160.4 | 209.9 | |||||
Depreciation/amortization2) | € m | -75.6 | -74.6 | -149.9 | -148.7 | |||||
Cash flow from operating activities | € m | 113.3 | 21.3 | 222.1 | -121.5 | |||||
Net financial position3) | € m | -422.5 | -472.3 | |||||||
Equity ratio | % | 33.3 | 34.4 | |||||||
- Annualized
- Excluding financial assets, as from FY 2019 under initial application of IFRS 16 Leases
- Including investments, e.g. securities and structured investments
In the first half of 2021, the Salzgitter Group generated the highest pre-taxprofit (€ 305.7 million; H1 2020:
- -127.8million) since the exceptional financial years 2007 and 2008. The drivers of this result consisted of the dynamic uptrend in rolled steel prices over the course of the first six months, coupled with a sustained recovery in the market that had a particularly positive impact on the performance of the Strip Steel and Trading business units. The contribution from the participating investment in Aurubis AG (€ 91.0 million; H1 2020: € 34.0 million) was once again very gratifying. The Salzgitter Group's external sales rose to € 4,435.5 million in the first six months of the financial year 2021, significantly outperforming the year-earlier period that was determined by the COVID-19 pandemic (H1 2020: € 3,631.0 million. An after-taxresult that stood at € 230.6 million (H1 2020: € -144.7 million) brings earnings per share to € 4.20 (H1 2020: € -2.70) and return on capital employed to 16.4% (H1 2020: -6.3%). The equity ratio remained at a very sound 33.3%. Despite the greater volume of business and higher prices for raw materials and finished products, the net financial position of € -422.5 million settled around the level of the year-end 2020 reporting date (€ -431.7 million). The value of the CO2 allowances procured for the fourth period of the EU greenhouse gas emission trading scheme that commenced on January 1, 2021 meanwhile amount to almost one billion euros.
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Salzgitter AG published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2021 05:35:03 UTC.