Plus   Neg

Salzgitter Q2 Result To Be In Negative Territory - Quick Facts

At the annual general meeting, Heinz Jörg Fuhrmann, Chairman of the Executive Board of Salzgitter AG (SZGPF.PK,SZGPY.PK) said the Group is now able to deliver results close to breakeven, also under more unfavorable economic conditions. However, he noted that the result of the second quarter of 2020 will clearly be in negative territory despite rigorous countermeasures.

In view of the negative impact of the Corona crisis on the performance of the Salzgitter Group, the Executive Board and the Supervisory Board do not consider it appropriate to distribute dividend for fiscal 2019.

"Our overriding aim is not to have to depend on additional equity and/or debt capital measures for as long as we can. From today's standpoint, we would only need a capital injection in the worst case scenario. We do not believe this to be the case at the moment," Heinz Jörg Fuhrmann said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, the founder and CEO of Space Exploration Technologies, or SpaceX, said the aerospace company is planning to list its space internet venture, Starlink, after many years when revenue growth is smooth and predictable. In a tweet, Musk said, "We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic It's again that day of the year when coffee lovers celebrate their passion for the caffeinated beverage. It is National Coffee Day today in the U.S. when major food and beverage outlets nationwide promote the coffee culture with deals for coffee fans. In the U.S., major coffee outlets such as Starbucks, Dunkin' Donuts, Wawa, Krispy Kreme, Wendy's and Panera Bread give away free cups of coffee. The state of Ohio ordered General Motors to repay $28 million in tax credits after closing the Lordstown plant, which was in agreement to be operated until 2040. The Ohio Tax Credit Authority said the closure violated the terms of two economic development agreements signed by the company. In separate development, GM announced it is investing $71 million in two other Ohio manufacturing facilities.
Follow RTT