Germany-based steelmaker Salzgitter Group has announced its financial results for the first nine months of the current year.
The company posted a net profit of €193.7 million for the first nine months this year, compared to a net profit of €945.8 million in the same period of the previous year, while the company’s sales revenues amounted to €8.4 billion, down by 13.9 percent year on year. The company’s EBITDA in the given period rose to €576 million compared to €1.39 billion in the same period of the previous year. The decreases were due to increasing economic challenges, the company noted.
In the January-September period, the company’s crude steel production totaled 4.45 million mt, down by 6.6 percent year on year.
As for 2023, the company expects its sales revenue to be around €11 billion and EBITDA to be between €650 million and €700 million.