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euro adhoc: Salzgitter AG
Quarterly or Semiannual Financial Statements
SALZGITTER AG: Nine months result 2004 far better than previous year

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Thanks to the continued buoyant demands for rolled steel products and
a marked recovery of the tubes business, the Salzgitter Group
recorded a results development in the first nine months of 2004 that
by far exceeded the expectations held at the beginning of the year.
Consequently, the previous year's figures were outperformed by a
significant measure.
Posting consolidated external sales of EUR 4.30 billion, the
Group achieved a 16% gain versus the same period last year (9 months
2003: EUR 3.70 billion). Group pre-tax profit (EBT) moved up
significantly to EUR 157.2 million (9 months 2003: EUR 32.9
million), while after-tax profit rose to EUR 110.4 million (9
months 2003: EUR 22.3 million). The interest earned on capital
invested by the Group (ROCE) attained a very satisfactory level at
15.7% (9 months 2003: 5.0%).
External sales and pre-tax earnings of the Divisions:
External sales          EBT
(EUR million)      9M 2004 (9M 2003)   9M 2004 (9M 2003)
Steel              1,270    (1,071)     73.9    (19.3)
Tubes                720      (681)     53.8     (1.6)
Trading            1,921    (1,589)     72.6    (10.3)
Services             228      (184)     16.2    (10.1)
Processing           161      (173)    -22.6   (-12.4)
Cons./Others                           -36.7     (4.1)
Group              4,300    (3,698)    157.2    (32.9)
In the Processing Division extraordinary write-downs amounting to
EUR 37 million were taken, that were almost entirely balanced by
waivers of claims by the Holding. As a result of these extraordinary
factor, earnings from 'Consolidation and others' were negative.
Based on current information and expectations concerning the short
term developments on the procurement and sales markets, as well as
the general fundamentals, and including the effects of the profit
improvement program, the Salzgitter Group expects to post pre-tax
profits, excluding special items, of at least EUR 200 million for
the financial year 2004.
end of announcement                    euro adhoc 12.11.2004 06:30:00 

Further inquiry note:

Bernhard Kleinermann
Tel.: +49 (0) 5341-21-3783
E-Mail: kleinermann.b@salzgitter-ag.de
Tel.:49 (0) 5341-21-01
FAX: +49 (0) 5341-21-2727
Email: gersdorff.b@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: MDAX, Prime Standard, CDAX, HDAX
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing
Niedersächsische Börse zu Hannover / official dealing

Original content of: Salzgitter AG, transmitted by news aktuell

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