Salzgitter’s ad-hoc release indicates a pre-tax profit of €3.1m has been generated in the first quarter compared to €52m a year ago. The operating result has most probably been negative as the aforementioned profit number includes an at-equity profit of €12m from Aurubis compared to €3m a year ago. For the full-year, management’s guidance is for an ‘about break-even’ operating result. This will depend on when and which import duties are imposed by t
