14.11.2007 – 07:16
SALZGITTER AG: Sales and profit remain on track for new record highs at the end of the first nine months of 2007
Salzgitter (euro adhoc) -
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The Salzgitter Group set new record highs in its sales and operating profit for a nine-month period.
All divisions, especially Steel and Trading, contributed to lifting consolidated external sales by EUR 1.29 billion to EUR 7.50 billion (nine months 2006: EUR 6.21 billion). Another contributing factor was the first-time consolidation of Klöckner-Werke and Vallourec Précision Etirage (VPE), which were acquired at the start of the third quarter. Earnings before tax of EUR 980.4 million, generated solely through operations, outperformed the previous year´s figure of EUR 661.5 million by 48 % (EBT 9 months 2006 including proceeds of EUR 907 million from the sale of the Vallourec participation: EUR 1.57 billion). In the period under review, profit after tax came to EUR 594.9 million (9 months 2006: EUR 1.35 billion); earnings per share amounted to EUR 10.38 (9 months 2006: EUR 23.66). Return on capital employed (ROCE) posted 29.0 % (9 months 2006: 54.9 %).
Total sales by Division (EUR million): 9M 2007 (9M 2006) Steel 3,021 (2,467) Tubes 1,870 (1,600) Trading 3,764 (3,248) Servies 900 (771) Technology 278 - Others/Consolidation 325 (225) Group 10,158 (8,311)
External sales by Division (EUR million): 9M 2007 (9M 2006) Steel 2,168 (1,793) Tubes 1,343 (1,161) Trading 3,262 (2,871) Servies 390 (316) Technology 246 - Others/Consolidation 91 (67) Group 7,501 (6,207)
External sales by Division (EUR million): 9M 2007 (9M 2006) Steel 569.5 (301.3) Tubes 210.2 (184.3) Trading 176.5 (149.2) Servies 47.6 (16.6) Technology -9.9 (-) Others/Consolidation -13.4 (917.0) Group 980.4 1.568.5)
All in all, based on current information and in view of expectations of the development of the procurement and sales markets, as well as of the general conditions, and taking account of the effects of the Profit Improvement Program, we expect the Salzgitter Group to generate an operating EBT of around EUR 1.2 billion in the current year. Express reference is made to the fact that opportunities and risks arising from currently unforeseeable trends in sales prices, input materials and capacity level developments, as well as changes in the currency parity, may affect performance in the course of the remaining financial year 2007.
More information can be found in the full press release and interim report published today (see www.salzgitter-ag.de).
end of announcement euro adhoc 14.11.2007 07:15:00
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