SALZGITTER (dpa-AFX) - German steel maker Salzgitter AG (SZGPY.PK, SZGPF.PK) reported that its first-quarter of 2013 loss after taxes widened to 16.6 million euros from last year's 15.5 million euros, with basis loss per share widening to 0.32 euros from 0.31 euros in the prior year quarter.
Earnings before interest, tax, depreciation and amortization or EBITDA stood at 98.7 million euros, compared to 88.9 million euros last year. The pre-tax loss came in at 15.8 million euros, compared to a pre-tax loss of 19.6 million euros in the prior year quarter. The result included an amount of 5.8 million euros in after-tax profit from Aurubis AG (first quarter of 2012: 28.0 million euros), a participation included at equity.
Consolidated external sales for the quarter declined to 2.447 billion euros, from last year's 2.615 billion euros, mainly due to selling prices.
The company said the Group closed the first quarter of 2013 with a pre-tax loss that underscores the significance of the 'Salzgitter AG 2015' reorganization program initiated the year before.
The company said that it does not expect a significant improvement in the economic environment over the remainder of the year. In view of the deterioration in the prospects of the Steel and Tubes Divisions' business it has therefore become necessary to adjust the guidance for the Salzgitter Group: The company now anticipates stable sales and a negative pre-tax result in the mid-double-digit million euros range in the financial year 2013.
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