Germany-based steelmaker Salzgitter Group has announced its financial results for 2022.
The company posted a net profit of €1.08 billion for last year, compared to a net profit of €586.1 million in 2021, while the company’s sales revenues amounted to €12.6 billion, up by 29 percent year on year, with Salzgitter delivering a new sales record. The company’s EBITDA in the given period rose to €1.62 billion compared to €1.26 billion in the previous year.
Meanwhile, the company’s crude steel production totaled 6.11 million mt in 2022, down by 9.4 percent year on year.
According to the company’s statement, the second half of the year presented a market environment impacted by high inflation, energy prices at record levels, and declining steel prices. The first quarter of 2023 has been characterized by upbeat demand.
As for 2023, the company expects its sales revenue to be €13 billion and pre-tax profit to be between €300 million and €400 million.
The company stated that it expects to be able to commence hydrogen-based steel production as early as the end of 2025 and it aims to fully implement hydrogen-based production by 2033.