Salzgitter Q2 Profit Climbs On Strong Production; Backs FY18 Outlook

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(RTTNews.com) - German steel producer Salzgitter Group (SZGPF.PK, SZGPY.PK) reported Monday that its second-quarter consolidated net income climbed to 70.1 million euros from last year's 15.9 million euros. Earnings per share were 1.27 euros, higher than 0.27 euros in the prior year.

EBIT before depreciation and amortization or EBITDA improved to 213.6 million euros from 126.5 million euros a year ago.

External sales grew to 2.31 billion euros from prior year's 2.26 billion euros.

In the quarter, Crude steel production grew to 1.76 million tonnes from 1.68 million tonnes last year.

In the first half of 2018, Salzgitter Group achieved the best result in earnings before taxes since 2008. Along with the strong performance of the Strip Steel Business Unit, all other segments contributed to this impressive development with positive results.

Against the backdrop of uncertainty from trade policies and their possible impact, Salzgitter said it is leaving its guidance for the financial year 2018 unchanged.

The company continues to expect a slight increase in sales to above the 9 billion euros mark, and a pre-tax profit of between 250 million euros and 300 million euros.

Read the original article on RTTNews (http://www.rttnews.com/2925907/salzgitter-q2-profit-climbs-on-strong-production-backs-fy18-outlook.aspx)

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This article appears in: Politics , Fundamental Analysis , World Markets , Stocks , Earnings

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