Salzgitter Group Adjusts Financial Guidance for 2024

Salzgitter AG has revised its financial guidance for the year 2024 due to the slow pace of Germany's economic recovery. Ongoing delays in infrastructure projects and high energy costs are major contributing factors. Uncertainty regarding a potential economic trend change persists.

In light of the first half-year results and updated subsidiary outlooks, the Executive Board has adjusted its expectations for sales and earnings. The group now predicts sales of €10 billion, down from the previous estimate of €10.5 billion. EBITDA is forecasted to be between €400 million and €500 million, reduced from the earlier range of €550 million to €625 million.

Salzgitter also revised its pre-tax result outlook to breakeven, compared to the previous forecast of between €100 million and €175 million. Return on capital employed is also expected to be noticeably lower year-on-year. Potential one-off effects due to structural events by year-end have not been included in these adjustments.