Salzgitter AG - Earnings Release 2017

News Details

Ad-hoc | 2 May 2017 16:44

Salzgitter Group: successful start to the year – earnings guidance raised

Salzgitter AG / Key word(s): Quarter Results/Change in Forecast

02-May-2017 / 16:44 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

With profit before taxes of EUR 77.1 million in the first three months of the financial year 2017 (3 months 2016: EUR 3.1 million), the Salzgitter Group recorded the best quarterly earnings since 2008, thereby significantly exceeding the recent market expectations of EUR 43 million. This performance reflects the encouraging starting point for the year 2017 advised when the results for the first nine months of 2016 were presented.

The pre-tax profit includes EUR -7.6 million in contribution from the Aurubis investment (3 months 2016: EUR 11.6 million) that was negative due to the valuation of an exchangeable bond.

Following the good start to the financial year, and in the light of the effects anticipated from measures and growth programs, Salzgitter AG is raising its earnings guidance for the financial year 2017. We now assume

– a pre-tax profit of between EUR 125 million and EUR 175 million (formerly: between EUR 100 million and EUR 150 million; 2016: EUR 53 million) as well as

– a return on capital employed (ROCE) that discernably exceeds the previous year’s figure (formerly: that marginally exceeds the previous year’s figure; 2016: 2.7%).

Further details on the financial statements for the first quarter will be published on May 15, 2017, as scheduled. We make reference to the fact that opportunities and risks from currently unforeseeable trends in selling prices, raw material price and capacity level developments may still considerably affect performance in the course of the financial year 2017.

Contact:

Markus Heidler

Head of Investor Relations

Salzgitter AG

Eisenhüttenstraße 99

38239 Salzgitter

Phone +49 5341 21-6105

Fax +49 5341 21-2570

E-Mail [email protected]

02-May-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	Salzgitter AG
	Eisenhüttenstraße 99
	38239 Salzgitter
	Germany
Phone:	+49 5341 21-01
Fax:	+49 5341 21-2727
E-mail:	[email protected]
Internet:	www.salzgitter-ag.de
ISIN:	DE0006202005
WKN:	620200
Listed:	Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange