euro adhoc: Salzgitter AG
Quarterly or Semiannual Financial
Statements
SALZGITTER AG: Nine months result 2004 far better than
previous year
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Thanks to the continued buoyant demands for rolled steel products and a marked recovery of the tubes business, the Salzgitter Group recorded a results development in the first nine months of 2004 that by far exceeded the expectations held at the beginning of the year. Consequently, the previous year's figures were outperformed by a significant measure.
Posting consolidated external sales of € 4.30 billion, the Group achieved a 16% gain versus the same period last year (9 months 2003: € 3.70 billion). Group pre-tax profit (EBT) moved up significantly to € 157.2 million (9 months 2003: € 32.9 million), while after-tax profit rose to € 110.4 million (9 months 2003: € 22.3 million). The interest earned on capital invested by the Group (ROCE) attained a very satisfactory level at 15.7% (9 months 2003: 5.0%).
External sales and pre-tax earnings of the Divisions:
External sales EBT (€ million) 9M 2004 (9M 2003) 9M 2004 (9M 2003) Steel 1,270 (1,071) 73.9 (19.3) Tubes 720 (681) 53.8 (1.6) Trading 1,921 (1,589) 72.6 (10.3) Services 228 (184) 16.2 (10.1) Processing 161 (173) -22.6 (-12.4) Cons./Others -36.7 (4.1) Group 4,300 (3,698) 157.2 (32.9)
In the Processing Division extraordinary write-downs amounting to € 37 million were taken, that were almost entirely balanced by waivers of claims by the Holding. As a result of these extraordinary factor, earnings from 'Consolidation and others' were negative.
Based on current information and expectations concerning the short term developments on the procurement and sales markets, as well as the general fundamentals, and including the effects of the profit improvement program, the Salzgitter Group expects to post pre-tax profits, excluding special items, of at least € 200 million for the financial year 2004.
end of announcement euro adhoc 12.11.2004 06:30:00
Further inquiry note:
Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
E-Mail: kleinermann.b@salzgitter-ag.de
Tel.:49 (0) 5341-21-01
FAX: +49 (0) 5341-21-2727
Email: gersdorff.b@salzgitter-ag.de
Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: MDAX, Prime Standard, CDAX, HDAX
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing
Niedersächsische Börse zu Hannover / official dealing