(RTTNews) – Salzgitter AG (SZGPF.PK, SZGPY.PK), a German metal producer, on Monday reported web loss for the primary 9 months of the monetary 12 months 2024 of 197.7 million euros, in comparison with prior 12 months’s revenue of 193.7 million euros, in a troublesome market setting.
Fundamental loss per share was 3.74 euros, in comparison with revenue of three.51 euros a 12 months in the past. Loss earlier than taxes was 141.2 million euros, whereas prior 12 months’s revenue was 254.3 million euros.
The corporate famous {that a} main driver behind the pre-tax loss consisted of impairment totaling 150 million euros within the Metal Processing Enterprise Unit.
EBITDA for the interval plunged to 320.6 million euros from 576.0 million euros final 12 months.
Salzgitter Group’s exterior gross sales dropped to 7.7 billion euros from prior 12 months’s 8.4 billion euros as the costs of most rolled metal merchandise had been trending down.
Trying forward, for fiscal 2024, Salzgitter maintained its outlook, which was up to date on October 22.
The corporate initiatives pre-tax loss for the 12 months to be between 275 million euros and 325 million euros, EBITDA in a spread of 275 million euros to 325 million euros and gross sales to be between 9.5 billion euros and 10 billion euros.
Gunnar Groebler, Salzgitter AG’s Chief Government Officer, stated, “The primary 9 months of the monetary 12 months 2024 proved very difficult not just for us but in addition for Europe’s complete metal trade. A weak financial setting and power costs operating at a persistently excessive stage burdened profitability. Proper as much as immediately, there are nonetheless no indicators of an imminent and sustainable restoration.”
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