SALZGITTER (dpa-AFX) - Salzgitter AG (SZGPF.PK, SZGPY.PK), a German steel maker, on Monday reported a net loss for the second-quarter, amidst a decline in sales and Europe's downbeat economic trend, above all in Germany, which has placed a significant burden on steel business.
For three-month period, the company posted a net loss of 33.5 million euros or 0.64 euro per basic share, compared with a profit of 19.7 million euros or 0.34 euro per basic share, registered for the same period last year.
Un-appropriated retained loss of Salzgitter AG narrowed to 24.4 million euros from last year's loss of 54.1 million euros.
Earnings before taxes stood at 5.7 million euros as against previous year's profit of 27.3 million euros.
Total operating performance slipped to 2.629 billion euros from 2.817 billion euros in 2023.
Sales stood at 2.565 billion euros, down from 2.853 billion euros a year ago.
Looking ahead, for the full year, the company expects a breakeven pre-tax result, with EBITDA of 400 million euros to 500 million euros, on sales of 10 billion euros.
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