Salzgitter Reports FY15 Preliminary Pre-tax Profit Of EUR 12 Mln

(RTTNews) - According to the preliminary figures, Salzgitter Group (SZGPF.PK, SZGPY.PK) reported a pre-tax profit of EUR 12 million in the financial year 2015, compared to negative EUR 15.2 million in 2014. The result comprises a positive contribution of EUR 21 million anticipated from the Aurubis participation, as well as, on balance, a burden on earnings of EUR 74 million from the relining of a blast furnace in the Salzgitter steelworks and from accounting-related effects.

The company noted that this result lies within the lower double-digit million euro range in line with the forecast for a pre-tax profit most recently affirmed on January 14, 2016. The company said it is delivering positive annual result for the first time since 2011.

External sales for the financial year stood at EUR 8.6 billion, versus EUR 9.0 billion in 2014. With an equity ratio of 35 % and a net financial position that had increased to EUR 415 million compared with the year-end of 2014, the financial basis remains very sound, the company added.

The company plans to publish final figures and further details, as planned, on February 26, 2016.