Germany-based steelmaker Salzgitter Group has announced that it has revised down its guidance for sales revenues and EBITDA for 2024.
The company forecasts sales revenues of €10 billion for 2024 compared to the previous guidance of around €10.5 billion, and an EBITDA of €400-500 million, compared to €550-625 million in its previous guidance. Explaining the downward revision, the company stated, “Germany’s economic recovery is still slow to materialize. Infrastructure projects long planned are being delayed, a situation compounded by persistently very high energy costs for procurement and grid usage, along with relatively high imports. Uncertainty currently prevails about a trend reversal after the summer.”