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Salzgitter Confirms 2011 Results, Inability To Provide Detailed 2012 Forecast

3/30/2012 5:55 AM ET

Salzgitter AG (SZG.DE,SZGPY.PK) Friday released its annual report for fiscal 2011, and confirmed the growth in 2011 profit originally announced on March 5, 2012. The company also reiterated its inability to provide a detailed forecast "with long-term validity" due to an "increasingly volatile environment.

For 2011, Salzgitter posted a profit of 236 million euros, surging from 2010's 30 million euros. Earnings before tax, or EBT, also soared to 202 million euros from 49 million euros, thanks to the Steel division turning around to an EBT of 26 million euros from the year-ago EBT of negative 101 million euros.

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by RTT Staff Writer

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