SALZGITTER (dpa-AFX) - German steel producer Salzgitter AG (SZGPF.PK, SZGPY.PK) reported a pre-tax result of negative 200 million euros in financial year 2020, compared to negative 253.3 million euros in fiscal year 2019.
The company noted that the pre-tax result exceeds the previous year's figure as well as the last forecast, due to the rigorous crisis management, the uptrend in business development in the fourth quarter, particularly in theStrip Steel, Trading and Technology business units, and the very gratifying contribution from the participating investment in Aurubis AG.
Looking ahead for financial year 2021, the company expects a pre-tax profit (EBT) of between 150 million euros and 200 million euros. It also expects an increase in sales to more than 8.5 billion euros compared to the previous year's 7 billion euros.
Copyright RTT News/dpa-AFX