SALZGITTER (dpa-AFX) - German steel producer Salzgitter Group (SZGPF.PK, SZGPY.PK) on Wednesday confirmed its guidance for the financial year 2019.
Based on the gloomier sentiment and numerous economic and political uncertainties, the company still anticipates financial year 2019 pre-tax profit of between 125 million euros and 175 million euros, which is below last year.
The company sees a slight increase in sales to above the 9.5 billion euros mark.
In its fiscal 2018, earnings before taxes result increased to 347.3 million euros from 238.0 million euros last year.
Net income climbed to 277.7 million euros from last year's 193.6 million euros. Earnings per share were 5.06 euros, up from 3.52 euros a year ago.
The external sales rose in the financial year 2018 mainly on the back of selling prices to 9.28 billion euros from 8.99 billion euros in the prior year.
Chief Executive Officer Heinz Jörg Fuhrmann said, 'The profit improvement potential of around € 150 million realized from programs implemented since 2013 are proof that we focus on rigorously taking the Group forward, also in years when the economy is good. Given the likelihood of challenges increasing in the current year, it will be about resolutely continuing to chart this course.'
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