Salzgitter Updates Its FY24 Outlook

(RTTNews) - Salzgitter AG (SZGPF.PK), a producer of steel and steel-related products, on Tuesday updated its sales and earnings guidance for the financial year 2024, following continued slower economic recovery and higher energy costs and imports.

The company now expects EBITDA for the full year to be in the range of 400 million - 500 million euros, on sales of 10 billion euros. Earlier, the company had forecast EBITDA of 550 million - 625 million euros on sales of about 10.5 billion euros.

For the full year, the company now sees pre-tax result at breakeven, compared to the earlier projected 100 million - 175 million euros range.