Salzgitter’s revenue continued falling by 12.4% in Q3 (to €1.89bn) thus bringing the 9M number to €5.86bn (-12.4%). Based on the numbers management released a year ago, EBIT turned around from a Q3 15 loss of €50m to a profit of €28m. As a result, EBIT was up by 25% to €80m through to September whereas the 9M EBT number was down by 12% to €21m. The revenue number fell clearly short of our projection (€6.18bn) while the two profit numbers are higher (&e
10 Nov 2016
Historic inventory had to be re-stated
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Historic inventory had to be re-stated
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
10 Nov 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Salzgitter’s revenue continued falling by 12.4% in Q3 (to €1.89bn) thus bringing the 9M number to €5.86bn (-12.4%). Based on the numbers management released a year ago, EBIT turned around from a Q3 15 loss of €50m to a profit of €28m. As a result, EBIT was up by 25% to €80m through to September whereas the 9M EBT number was down by 12% to €21m. The revenue number fell clearly short of our projection (€6.18bn) while the two profit numbers are higher (&e