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Salzgitter Group raises its profit forecast

Steel News - Published on Fri, 21 Sep 2018

Image Source: Salzgitter Flachstahl GmbH
In view of the apparent course of business in the third quarter and in expectation of our key sales markets continuing to develop well, the Salzgitter Group has raised its profit forecast. The EU’s trade defense measures against rising steel imports that have been rigorously implemented since mid-July are taking effect and limiting the redirection of trade flows as a consequence of US duties. From today’s standpoint, the uncertainties pertaining to trade policies have therefore become less opaque, at least through to the end of the year.

With a slight year-on-year increase in sales to above the EUR 9 billion mark, it now anticipates
• a pre-tax profit of between EUR 300 million and EUR 350 million (previously: between EUR 250 million and EUR 300 million)
• a marginally higher return on capital employed of between 9% and 11% compared with the previous year (8.6%)

Salzgitter said “We make explicit reference to the fact that imponderables, including changes in the cost of raw materials, precious metal prices and exchange rates, along with global trade policy measures and their possible impact may still exert a considerable influence over the course of the financial year 2018.”

Source :

Posted By : Ratan Singh on Fri, 21 Sep 2018
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