Salzgitter AG Achieves Break-even in Q3 Amidst Challenging Market Conditions

Salzgitter AG reported a break-even operating result over the first nine months of 2024, navigating a challenging market environment marked by high import volumes and non-competitive energy costs. The steel segment was impacted negatively by downward price trends, reducing external sales to €7.7 billion from €8.4 billion the previous year. Despite these setbacks, the Technology Business Unit showed promising growth.

Earnings before taxes reflected a loss of €141.2 million, down from a profit of €254.3 million last year. A significant impairment of €150 million in the Steel Processing Business Unit was noted as a major factor for the loss. Salzgitter's equity participation in Aurubis AG contributed positively, helping stabilize the overall financial performance.

The company's strategic focus remains on improving competitiveness and sustainability through measures such as the 'Salzgitter AG 2030' strategy. Liquidity and profit improvement steps are being rigorously implemented.