Salzgitter Group publishes Annual Report and non-financial report 2019

High political uncertainty, associated with manifold trade conflicts as well as economic headwind, Salzgitter AG faced special challenges in the past financial year. Rolling steel revenues gradually declining over the course of the year, while temporarily strong increased iron ore costs, declining demand and still high steel imports Quantities in the EU market were particularly detrimental to steel producers and processors Societies. In addition, -396.0 million  €Earnings charges from special effects (2018: –62.8 million €) earnings before taxes (EBT;–253.3 million€, 2018: +347.3 million€). The EBT without special effects amounts to 142.7 million €.

CEO Prof. Dr.-Ing. Heinz Jörg Fuhrmann on the 2019 financial year:
“The bottom line result for the 2019 financial year was certainly not
enjoyable. Adjusted for the negative one-time effects, we still have an operational presentable
Result generated. The strategic decision proved a balance
to strive between the steel-related and steel-remote activities
speed.

Our company is thanks to its sustainable, conservative business policy and
broad diversification of customer industries remains internationally competitive
Group that is financially and balance sheet solid and technically modern. So that's it
remains, we will make the further improvement of our structures and pro-
consistently continue. It will be a topic that will determine us in the next few years
also be the transformation process to a climate-neutral steel industry. With SALCOS
®- our climate strategy for sustainable steel production - we have a technically fast one
feasible solution developed. Now it is up to politics to create the necessary political framework
to create conditions. I am convinced that we must act now if
society and society want to achieve the climate targets set for 2050. "

Source: Salzgitter AG, Photo: Fotolia