Salzgitter AG (SZGPF.PK, SZGPY.PK) has disclosed that its first-quarter consolidated profit has taken a dip from previous 140.5 million euros to the current 15.0 million euros. The basic earnings per share have fallen from 2.57 euros to a mere 0.24 euros. Notably, earnings before interest and taxes (EBIT) have dropped from 214.2 million euros to 45.2 million euros. Meanwhile, EBITDA has also seen a decline from 290.0 million euros to 126.4 million euros. Furthermore, external sales have seen a reduction from 2.98 billion to 2.68 billion euros compared to the same period last year.
The company attributes this outcome mainly to the Technology Business Unit, which provided a highly satisfactory result in the current quarter, and the equity investment, Aurubis AG.
Looking forward, for the fiscal year 2024, the company projects sales close to 10.5 billion euros and an EBITDA ranging between 550 million euros and 625 million euros.