Salzgitter AG (SZGPF.PK,SZGPY.PK), a German steel manufacturer, on Monday reported wider loss in its second quarter and lower EBITDA with weak sales and production. Further, the company trimmed its fiscal 2025 forecast for earnings and sales.
In the second quarter, consolidated loss was 54.3 million euros, wider than last year's loss of 33.5 million euros. Loss per share was 1.02 euros, compared to loss of 0.64 euros a year ago.
EBIT before depreciation and amortization or EBITDA declined to 38.2 million euros from prior year's 107.3 million euros.
External sales dropped to 2.34 billion euros from 2.57 billion euros a year ago. Crude steel production declined to 1,373.5 kt from 1,650.0 kt a year earlier.
For fiscal 2025, the company now expects earnings before tax between negative 100 million euros and 0 million euros, EBITDA between 300 million euros and 400 million euros, and sales of 9 billion euros to 9.5 billion euros.
The company previously expected earnings before tax between negative 100 million euros and positive 100 million euros, and EBITDA between 350 million euros and 550 million euros, on sales of 9.5 billion euros to 10.0 billion euros.
In fiscal 2024, Salzgitter recorded a loss before tax of 296.2 million euros, EBITDA of 445.2 million euros and sales of 10.01 billion euros.
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