10.11.2016 Salzgitter AG  DE0006202005

DGAP-News: Salzgitter AG: Salzgitter Group delivers sound earnings performance in the first nine months of 2016


 
DGAP-News: Salzgitter AG / Key word(s): 9-month figures Salzgitter AG: Salzgitter Group delivers sound earnings performance in the first nine months of 2016 10.11.2016 / 07:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Internal restructuring projects and the EU's anti-dumping initiatives take effect - Salzgitter Group continues its upward trajectory - Sales and profit forecast for the financial year 2016 affirmed The positive earnings trend of the Salzgitter Group has stabilized, despite the ruinous price situation for rolled steel products due to the flood of imports through to the spring. This performance is based on the profound success of the restructuring projects and the first effects of the EU anti- dumping measures. The summer quarter that is customarily impacted by planned maintenance and repair downtime and the seasonal decline in customer demand developed somewhat more modestly, in line with expectations. In the third quarter, the Strip Steel Business Unit nevertheless generated a positive pre-tax result for the first time again in more than a year. The external sales of the Salzgitter Group declined to EUR 5,860.5 million (9M 2015: EUR 6,691.7 million) in the first nine months of 2016. Determining factors included the effect of the heavily subsidized Chinese imports, lower volumes in international trading, as well as the discontinuation of the sheet piling business. The gratifying pre-tax profit of EUR 21.1 million (9M 2015: EUR 15.6 million) comprises a total of EUR 7.2 million in expenses incurred by measures aimed at structural improvements (9M 2015: EUR -33.1 million) and EUR 16.8 million from the positive contribution by the Aurubis investment (9M 2015: EUR -12.8 million) that, due to the revaluation of a convertible bond, had dropped EUR 9.3 million compared with the figure posted in the first half of 2016. Based on an after-tax profit of EUR 14.6 million (9M 2015: EUR 3.6 million), earnings per share amount to EUR 0.21 (9M 2015: EUR 0.00). The return on capital employed (ROCE) stood at 2.1 % (9M 2015: 1.8 %). Chief Executive Officer Prof. Dr.-Ing. Heinz Jörg Fuhrmann commented as follows: "Thanks to our energetically pursued self-help program, flanked by the European Union anti-dumping initiatives that are as welcome as they are urgently needed, the Salzgitter Group remains on track. Due to longer-term contractual relationships, steel prices that began to rise in the spring are not yet fully reflected in the current results. Nevertheless, the starting point for the coming financial year is the most encouraging for some long time. With the recently approved 'Salzgitter AG 2021' strategy, we have set the key building blocks in place for taking the development of our company further." External sales by business unit (EUR million):

                                                         9M 2016  (9M 2015)
Strip Steel                                              1,389.0  (1,505.6)
Plate / Section Steel                                      535.9    (719.0)
Mannesmann                                                 727.1    (811.7)
Trading                                                  2,109.1  (2,530.1)
Technology                                                 954.2    (978.1)
Industrial Participations / Consolidation                  145.2    (147.1)
Group                                                    5,860.5  (6,691.7)


Earnings before taxes (EBT) by business unit (EUR million):

                                            9M 2016              (9M 2015*)
Strip Steel                                   -27.4                  (-9.5)
Plate / Section Steel                         -24.7                 (-41.3)
Mannesmann                                      2.4                   (8.8)
Trading                                        31.7                  (21.0)
Technology                                     17.1                  (16.1)
Industrial Participations /                    22.0                  (20.5)
Consolidation
Group                                          21.1                  (15.6)
*Restatement because of a correction of the stock value Outlook Guidance on the development of the macroeconomic situation is already fundamentally subject to a great deal of uncertainty, particularly in the current political and financial environment. The forward-looking statements below on the individual business units assume the absence of recessionary developments in Europe. Instead they are based more on the assumption of a moderate economic recovery in our persistently contested main markets. The Strip Steel Business Unit anticipates a marginally negative result in the fourth quarter of 2016. Although selling prices for flat steel products will continue to rise, a shortfall in shipment volumes in December for seasonal reasons and due to the scheduled downtime of a facility will prevent breakeven from being achieved. Against this backdrop, a downturn in sales and a certain deterioration in the pre-tax result compared with the previous year has been assumed. In the Plate / Section Steel Business Unit the ruinous price competition, triggered by the flood of imports in the first half of the year that the plate companies had to contend with appears to have been halted for the time being. This is clearly insufficient for the closing quarter to compensate for the losses sustained in the first nine months. A stabilizing effect emanates from the section steel segment despite the persistently difficult market environment. Also thanks to the non-recurrence of losses from the operations of HSP Hoesch Spundwand und Profil GmbH that were wound down at year-end 2015, we anticipate a significant reduction in the business unit's pre-tax loss compared with the previous year. Sales are anticipated at a notably lower level due above all to selling prices. The companies belonging to the Mannesmann Business Unit report heterogeneous performance: While capacity utilization in the plate mills is good, order bookings in the segment of medium line pipes continue to be unsatisfactory as a result declining energy prices. As regards the precision tubes companies, the demand of automotive manufacturers remains stable; the markets of the energy and industry product segments, however, show signs of weakening. In the business segments of stainless steel tubes, the anticipated market recovery is likely to be delayed, particularly in the oil and gas sector. All in all, lower sales and a slight pre-tax loss are anticipated compared with the previous year. The Trading Business Unit predicts an ongoing stabilization of price levels and demand over the remaining months of the year. All in all, the segment anticipates lower sales compared with 2015, which is mainly due to the decline in international trading's shipment tonnage and the notably weaker annual average selling prices. The temporary widening of the margins in the stockholding steel trade is nevertheless likely to lead to a higher pre-tax profit. The Technology Business Unit expects a stable sales and profit trend supported by a high order backlog. In view of the continued fierce competition in the global project business, the KHS Group intends to generate innovation driven growth in profitable product segments, as well as through the additional expansion of its service business. The outlook for the two suppliers of special machinery for processing plastics is also very promising. Against this backdrop, the Salzgitter Group affirms its forecast to date and continues to assume the following for the financial year 2016: - a decline in sales to between EUR 8.0 billion and EUR 8.5 billion (previous year: EUR 8.6 billion), - an increase in the pre-tax profit compared with the previous year (EUR 4.1 million) to between EUR 30 million and EUR 60 million, and - a return on capital employed that is marginally higher year on year (previous year: 1.9 %). Additional information can be found in the full press release and the financial report published today (www.salzgitter-ag.com/en). Disclaimer: Some of the statements made in this report possess the character of forecasts or may be interpreted as such. These are made to the best of the Company's knowledge and judgment, and by their nature are subject to the proviso that no unforeseeable deterioration occurs in the economy or in the specific market situation pertaining to the division companies, but rather that the underlying bases of plans and outlooks prove to be accurate as expected with regards to their scope and timing. Notwithstanding prevailing statutory provisions and capital market law in particular, the Company accepts no obligation to continuously update any forward-looking statements that are made solely in connection with circumstances prevailing on the day of their publication. Contact: Markus Heidler Head of Investor Relations Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Phone +49 5341 21-6105 Fax +49 5341 21-2570 E-Mail [email protected] --------------------------------------------------------------------------- 10.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Germany Phone: +49 5341 21-01 Fax: +49 5341 21-2727 E-mail: [email protected] Internet: www.salzgitter-ag.de ISIN: DE0006202005 WKN: 620200 Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 519051 10.11.2016


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 8.990,20 9.278,20 8.547,30 7.090,80 9.767,40 12.553,30 10.790,50
EBITDA1,2 707,20 797,20 354,20 176,00 1.261,60 1.617,80 677,00
EBITDA-Marge3 7,87 8,59 4,14 2,48 12,92 12,89
EBIT1,4 316,80 412,60 -187,50 -119,00 753,20 1.312,00 355,10
EBIT-Marge5 3,52 4,45 -2,19 -1,68 7,71 10,45 3,29
Jahresüberschuss1 193,60 277,70 -237,30 -273,90 586,10 1.085,40 204,10
Netto-Marge6 2,15 2,99 -2,78 -3,86 6,00 8,65 1,89
Cashflow1,7 273,70 527,80 250,70 18,30 329,40 596,50 892,00
Ergebnis je Aktie8 3,35 5,06 -4,46 -5,13 10,74 20,00 3,70
Dividende8 0,45 0,55 0,00 0,00 0,75 1,00 0,30
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Ernst & Young

INVESTOR-INFORMATIONEN
©boersengefluester.de
Salzgitter
WKN Kurs in € Einschätzung Börsenwert in Mio. €
620200 24,180 Kaufen 1.453,15
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
6,72 10,33 0,64 6,59
KBV KCV KUV EV/EBITDA
0,30 1,63 0,13 5,14
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,00 0,45 1,86 29.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2024 12.08.2024 11.11.2024 15.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-2,68% -9,94% -13,64% -30,32%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Salzgitter AG  ISIN: DE0006202005 können Sie bei EQS abrufen


Stahl/Kupfer , 620200 , SZG , XETR:SZG