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Correction: Salzgitter Q2 Loss Widens - Quick Facts

(Note: Amending guidance following official correction by the company)

Salzgitter AG (SZGPF.PK,SZGPY.PK) reported that its second-quarter net loss attributable to shareholders widened to 101.4 million euros from 1.8 million euros in the prior year, due to downturn in demand caused by the Corona pandemic. On a per share basis, net loss was 1.87 euros, compared to 0.02 euros in the previous year.

Sales for the second-quarter declined to 1.52 billion euros from 2.23 billion euros in the prior year.

Looking ahead financial year 2020, the company anticipates a notable reduction in sales. "Salzgitter AG confirms its guidance from July 22, 2020 of "a negative pre-tax result in the low to mid-triple digit million euro range," the company said in a statement.

The resulting fluctuation in the consolidated pre-tax result may be within a considerable range, either to the positive or to the negative, the company said.

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