The company’s latest ad-hoc release shows a pre-tax profit number of €12m whereas we had forecast €28m. Salzgitter will release preliminary numbers on 26 February.
In addition, Aurubis (25% controlled by Salzgitter) has released a preliminary pre-tax loss of €34m for its Q1 2015/16 (FYE 30/09). Management blames lower metal prices for this disappointing number. Excluding the revaluation of inventory the pre-tax result was positive at €36m compared to a profit of €39m a year ago.
28 Jan 2016
Our latest and reduced 2015 pre-tax profit projection was not achieved.
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Our latest and reduced 2015 pre-tax profit projection was not achieved.
Salzgitter AG (SZG:WBO) | 0 0 (-0.3%) | Mkt Cap: 2,774m
- Published:
28 Jan 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
The company’s latest ad-hoc release shows a pre-tax profit number of €12m whereas we had forecast €28m. Salzgitter will release preliminary numbers on 26 February.
In addition, Aurubis (25% controlled by Salzgitter) has released a preliminary pre-tax loss of €34m for its Q1 2015/16 (FYE 30/09). Management blames lower metal prices for this disappointing number. Excluding the revaluation of inventory the pre-tax result was positive at €36m compared to a profit of €39m a year ago.