Salzgitter will release final 9M 15 numbers on 12 November but management has released a few numbers already which are all clearly below our expectations. Instead of revenue of €6.77bn, the sales number came in at slightly less than €6.7bn. Pre-tax earnings were €24m (i.e. a loss of €56m in Q3) instead of our expected €80m.
Management blames lower metal prices for the above profit setback. This relates to Salzgitter’s stake in Aurubis and the related at-equity result which amounted to a prof ....
06 Nov 2015
Management returns to its previous (lower) profit guidance
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Management returns to its previous (lower) profit guidance
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
06 Nov 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
Salzgitter will release final 9M 15 numbers on 12 November but management has released a few numbers already which are all clearly below our expectations. Instead of revenue of €6.77bn, the sales number came in at slightly less than €6.7bn. Pre-tax earnings were €24m (i.e. a loss of €56m in Q3) instead of our expected €80m.
Management blames lower metal prices for the above profit setback. This relates to Salzgitter’s stake in Aurubis and the related at-equity result which amounted to a prof ....