Germany-based steelmaker Salzgitter Group has announced a pre-tax profit of €465 million for the first quarter this year according to its preliminary figures, exceeding current market expectations. This performance was attributable to the gratifying results of the Steel Production and Trading business units, as well as a contribution of €62 million from Aurubis AG, a participating investment included at equity.
Salzgitter stated that its sales revenues amounted to €3.4 billion in the first quarter of this year, increasing by around 60 percent year on year.
As for the full year of 2022, the company expects a pre-tax profit between €750 million and €900 million, in view of the strong first quarter, presupposing that the raw material and energy costs as well as steel prices remain at levels seen to date.