euro adhoc: Salzgitter AG
Financial Figures/Balance Sheet
Salzgitter Group
posts record results in the first nine months of 2005
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
13.11.2005
Against the backdrop of ongoing satisfactory development in the rolled steel and tubes businesses, Salzgitter AG has set new sales and profit records for the first nine months of a financial year thanks to the outstanding results of the first half year and a better-than-expected third quarter.
Consolidated external sales rose to EUR 5.38 billion (9 months 2004: EUR 4.30 billion) and Group profit before taxes to EUR 595.2 million (9 months 2004: EUR 157.2 million). Earnings in the third quarter of 2005 came to EUR 131.8 million before tax and were a significant improvement on the figure of the year-earlier quarter which was EUR 75.6 million. Owing to the capitalization of EUR 130 million worth of future positive tax-related effects with the concurrent impact on cash, the after-tax result reached a level of EUR 556.3 million (9 months 2004: EUR 110.4 million). Return on capital employed (ROCE) reached 38.2 % (9 months 2004: 15.7 %).
External sales at the new structured divisions (EUR million)
9 Months 2005 (9 Months 2004) Steel 1,634 (1,409) Tubes 1,039 (726) Trading 2,465 (1,921) Services 240 (244) Consolidation/Others Group 5.378 (4.300)
Pre-tax results at the new structured divisions (EUR million)
9 Months 2005 (9 Months 2004) Steel 330.6 (60.2) Tubes 216.2 (52.6) Trading 59.9 (72.6) Services 5.7 (8.5) Consolidation/Others -17.2 (-36.7) Group 595.2 (157.2)
On the basis of the information currently available and estimates concerning the trends in the procurements and sales markets as well as the general conditions, and taking account of the effects of the Profitability Improvement Program, the Salzgitter Groups pre-tax result is expected to post at least EUR 700 million in the current year. Express reference is made to the fact that opportunities and risks from developments currently not foreseeable and distortions in currency parity may still affect performance in the financial year 2005. Additional positive or negative effects may arise owing to structural or methodological changes, for instance in inventory valuation pursuant to revised IFRS standards or the manner in which they are treated.
For further details and an outlook on the current financial year, please refer to todays press release (see www.salzgitter-ag.de).
end of announcement euro adhoc 14.11.2005 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, CDAX, HDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
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
Niedersächsische Börse zu Hannover / official dealing