Ad-hoc | 2 May 2017 16:44
Salzgitter Group: successful start to the year – earnings guidance raised
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Salzgitter AG / Key word(s): Quarter Results/Change in Forecast
With profit before taxes of EUR 77.1 million in the first three months of the financial year 2017 (3 months 2016: EUR 3.1 million), the Salzgitter Group recorded the best quarterly earnings since 2008, thereby significantly exceeding the recent market expectations of EUR 43 million. This performance reflects the encouraging starting point for the year 2017 advised when the results for the first nine months of 2016 were presented. The pre-tax profit includes EUR -7.6 million in contribution from the Aurubis investment (3 months 2016: EUR 11.6 million) that was negative due to the valuation of an exchangeable bond. Following the good start to the financial year, and in the light of the effects anticipated from measures and growth programs, Salzgitter AG is raising its earnings guidance for the financial year 2017. We now assume – a pre-tax profit of between EUR 125 million and EUR 175 million (formerly: between EUR 100 million and EUR 150 million; 2016: EUR 53 million) as well as – a return on capital employed (ROCE) that discernably exceeds the previous year’s figure (formerly: that marginally exceeds the previous year’s figure; 2016: 2.7%). Further details on the financial statements for the first quarter will be published on May 15, 2017, as scheduled. We make reference to the fact that opportunities and risks from currently unforeseeable trends in selling prices, raw material price and capacity level developments may still considerably affect performance in the course of the financial year 2017. Contact: Markus Heidler Head of Investor Relations Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Phone +49 5341 21-6105 Fax +49 5341 21-2570 E-Mail ir@salzgitter-ag.de
02-May-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Salzgitter AG |
| Eisenhüttenstraße 99 | |
| 38239 Salzgitter | |
| Germany | |
| Phone: | +49 5341 21-01 |
| Fax: | +49 5341 21-2727 |
| E-mail: | info@salzgitter-ag.de |
| Internet: | www.salzgitter-ag.de |
| ISIN: | DE0006202005 |
| WKN: | 620200 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of Announcement | DGAP News Service |