Salzgitter AG Revises Financial Forecast for 2024

Salzgitter AG has announced adjustments to its financial guidance for the year 2024, reflecting a cautious outlook in light of emerging economic challenges. The company reported that its first-quarter earnings for 2024 produced external sales of €2.7 billion and an EBITDA of €126 million, aligning with capital market expectations, however, showing a decline from the previous year.

The revisions in the forecast take into account the slower recovery and growing uncertainties in the German economy, compared to other industrial nations. This situation particularly affects Salzgitter's steel-related segments, where delays in incoming orders are apparent. For the full year, the company now projects sales at approximately €10.5 billion and expects an EBITDA ranging from €550 million to €625 million. Pre-tax profits are anticipated to be between €100 million and €175 million, with a slightly lower return on capital employed than the previous year.

Salzgitter plans to release a detailed financial statement for the first quarter on May 13, 2024, which will provide further insights into the company's financial health and strategic direction amid a challenging economic landscape.