According to the key data now available for the interim accounts for the first nine months of the financial year 2012, the Salzgitter Group will record negative earnings before tax of around EUR-25 million in the third quarter (Q3 2011: EBT EUR +39.2 million).
This development is mainly attributable to unsatisfactory results in the Steel Division. The results achieved by the other divisions are in line with expectations.
The group will therefore close the 9-months period of 2012 with a pre tax loss of around EUR -A3 million (9 months 2011: EBT EUR +169.1 million).
Consolidated external sales climbed by 9 % to EUR 8.0 billion in the reporting period (9 months 2011: EUR7.3 billion).
Along with the ailing European steel market impacted by the general economic climate, the business activities of German steel processors and traders have also recently lost momentum. As. therefore, a seasonal recovery of the steel market has failed to materialize in the second half of the year, it has so far not been possible to implement the price increases urgently required in the face of the persistently high raw materials and energy costs.
Given these framework conditions, we see the need to adjust the forecast for the years as a whole and now anticipate a pre-tax result around breakeven.
Source - Salzgitter Group
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