Unlike Voestalpine, Salzgitter shows falling prices in just about all of its divisions. Consequently, consolidated revenue fell by 4.5% to €2.16bn in Q3 and by 1.8% to €6.69bn ytd. EBIT amounted to a loss of €50m in the last quarter (profit of €35m a year ago) and it is now down by 15% to €64m ytd. Even more discouraging is cash generation. Based on management’s definition, cash from operations has fallen by almost 50% to €173m through to September.
12 Nov 2015
Prices falling everywhere
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Prices falling everywhere
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
12 Nov 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
Unlike Voestalpine, Salzgitter shows falling prices in just about all of its divisions. Consequently, consolidated revenue fell by 4.5% to €2.16bn in Q3 and by 1.8% to €6.69bn ytd. EBIT amounted to a loss of €50m in the last quarter (profit of €35m a year ago) and it is now down by 15% to €64m ytd. Even more discouraging is cash generation. Based on management’s definition, cash from operations has fallen by almost 50% to €173m through to September.