SALZGITTER (dpa-AFX) - Salzgitter Group (SZGPF.PK, SZGPY.PK) reported preliminary earnings before taxes of 465 million euros in the first quarter of 2022, thereby notably exceeding current market expectations. It had reported earnings before taxes of 117 million euros in the first quarter of 2021.
The performance was especially attributable to the gratifying results of the Steel Production and Trading business units, as well as to a contribution of 62 million euros from Aurubis AG, a participating investment included at equity.
The Salzgitter Group's external sales rose by around 60 percent to 3.4 billion euros from the previous year.
The company raised the earnings guidance for the financial year 2022 and now anticipates earnings before taxes to be between 750 million euros and 900 million euros.
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