Salzgitter’s stated revenue and profit numbers were much higher than we had anticipated. Although steel production was marginally down by 2% to 1.74m tons and shipments were hardly up, revenue increased by 26% to €2.35bn and EBIT increased from €19m in Q1 16 to €100m. This was the highest quarterly EBIT number since 2008. As a result of the above, net earnings after minority charges increased to €47m compared to a break-even result a year ago.
15 May 2017
Spot steel prices have skyrocketed in Q1 17
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Spot steel prices have skyrocketed in Q1 17
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
15 May 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
Salzgitter’s stated revenue and profit numbers were much higher than we had anticipated. Although steel production was marginally down by 2% to 1.74m tons and shipments were hardly up, revenue increased by 26% to €2.35bn and EBIT increased from €19m in Q1 16 to €100m. This was the highest quarterly EBIT number since 2008. As a result of the above, net earnings after minority charges increased to €47m compared to a break-even result a year ago.