SALZGITTER (dpa-AFX) - Steel producer Salzgitter AG (SZGPF.PK) Friday reported earnings before tax of 242.6 million euros for the first half of the year, significantly lower than 970.5 million euros in the comparable period last year.
The company said earnings were impacted by reduced revenue due to decline in shipment volumes as well as lower average selling prices for many rolled steel products.
Consolidated results declined to 191.8 million euros from 781 million euros last year. Earnings per basic share were 3.49 euros compared with 14.39 euros in the previous year.
External sales dropped to 5.836 billion euros from 6.637 billion euros last year.
For the full year, Salzgitter has reaffirmed its outlook. It still expects full-year sales in the range of 11.5 billion euros-12 billion euros. In 2022, the company had sales of 12.553 billion euros.
Earnings before tax for the year is expected between 300 million euros and 400 million euros. This compares with 1.245 billion euros reported in 2022.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX