Although final 2016 numbers will only be released on 24 March, the preliminary numbers are disappointing. While revenue of €7.9bn (-8.3%) is €100m above our projection, the profit numbers were lower. Pre-tax earnings increased from €13m to €53m (we had expected €106m) and net profit turned around from a loss of €56m to a profit of €57m (our number was €71m). Salzgitter had to restate its 2015 profit numbers (i.e. they were lower than the ones released a
28 Feb 2017
Preliminary 2016 earnings and 2017 forecast below our expectations
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Preliminary 2016 earnings and 2017 forecast below our expectations
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
28 Feb 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
Although final 2016 numbers will only be released on 24 March, the preliminary numbers are disappointing. While revenue of €7.9bn (-8.3%) is €100m above our projection, the profit numbers were lower. Pre-tax earnings increased from €13m to €53m (we had expected €106m) and net profit turned around from a loss of €56m to a profit of €57m (our number was €71m). Salzgitter had to restate its 2015 profit numbers (i.e. they were lower than the ones released a