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Salzgitter AG

Salzgitter AG: Well equipped for the future - outstanding results in all divisions

Salzgitter (euro adhoc) -

  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
finances/Interim report 9M 2008
In an environment characterized by growing
uncertainty about future economic developments, the Salzgitter Group 
set a new pre-tax record result in the first three quarters of the 
financial year thanks to the high volume of orders placed for rolled 
steel and tubes in the reporting period. Owing to its exceptionally 
solid financial position and sound strategic alignment, Salzgitter AG
is well equipped to meet the challenges ahead. Consolidated external 
sales rose by EUR 2.14 billion to EUR 9.64 billion (+ 29 %; 9M/2007: 
EUR 7.50 billion). Along with the higher selling prices of steel 
products, mainly the companies of Klöckner-Werke AG, which are part 
of the Technology Division, together with other companies which, in 
the previous year´s period, did not yet belong to the group of 
consolidated companies, contributed EUR 1.02 billion to revenue 
growth. The Group´s pre-tax profit of EUR 1.01 billion, generated in 
the first three quarters of 2008, was marginally higher in a 
year-on-year comparison (9M/2007: EUR 980 million). This increase was
attributable, on the one hand, to better selling prices, which had a 
considerable impact on the tubes business and also led to a temporary
widening of margins in the steel stockholding companies of the 
Trading Division, and on the other hand, to the profit contribution 
of the Technology Division which was more than EUR 25 million higher 
as against the year-earlier figure. Profit after tax, which came in 
at EUR 689.0 million, exceeded the figure posted in the first nine 
months of 2007 (EUR 594.9 million) by 16 %, mainly due to the lower 
domestic corporate tax rate. Earnings per share stood at EUR 12.30. 
Return on capital employed (ROCE) from industrial business posted 
31.4 % and, taking account of cash funds of more than one billion 
euros, ROCE came to 28 % (9M/2007: 29.0 %).
External sales by Division (EUR million):
9M 2008   (9M 2007)
Steel         2,441.6   (2,167.7)
Trading       4,271.6   (3,262.3)
Tubes         1,604.1   (1,343.3)
Services        428.5     (390.3)
Technology      787.0     (246.2)
Others          105.9      (90.8)
Group         9,638.7   (7,500.6)
9M 2008   (9M 2007)
Steel           520.3     (569.4)
Trading         222.5     (176.5)
Tubes           234.1     (210.2)
Services         25.6      (47.6)
Technology       15.4      (-9.9)
Others           -4.0     (-13.4)
Group         1,013.9     (980.4)
Provided that the conditions in the environment do not change beyond 
what is currently known and expected up until the end of the year, 
Salzgitter AG will generate a consolidated pre-tax profit of almost 
EUR 1.2 billion in the financial year 2008. Even after contingent 
accounting measures as part of the annual accounts process, pre-tax 
profit will range within the previous forecast for the financial year
of more than one billion euros. Express reference is made to the fact
that, given the current volatility in the financial and real economy,
currently unforeseeable trends in sales prices, input materials and 
capacity level developments, as well as changes in the currency 
parity, may affect performance in the course of the fourth quarter of
2008.
More information can be found in the full press release and interim 
report published today (see www.salzgitter-ag.de).
end of announcement                               euro adhoc

Further inquiry note:

Jan Mathias Lesemann
+49 (0) 5341/21-4329
lesemann.j@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Börse Hannover / regulated dealing

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