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Salzgitter Group Posts Prelim. Q1 Pretax Loss - Quick Facts

Salzgitter Group (SZGPF.PK,SZGPY.PK) reported a pre-tax loss of 31.4 million euros in the first quarter compared to profit of 125.9 million euros, prior year. The Group noted that the contribution from the Aurubis investment included in the result was negative. Discounting this effect, loss before tax was 16 million euros, for the quarter.

First quarter external sales declined to 2.1 billion euros from 2.3 billion euros, previous year.

The company noted that the significant impact of the Corona epidemic only filtered through to order situation in mid-March, with the result of the first three months largely remaining unaffected.

The company anticipates a negative pre-tax result in a significant, with a high probability, triple-digit million euro range for fiscal 2020.

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