However, the company's pre-tax result was recorded as a loss of 83.8 million euros. The investment accounted for using the equity method in the Technology Business Unit and Aurubis AG had a positive impact on profits with a contribution of 71.5 million euros. While the Trade Business Unit showed marginal recovery thanks to cost adjustments and restructuring steps, the results of the Steel Production and Steel Processing business units reflected global political and economic pressures.
The company's external sales revenue in the first half decreased from 5.2 billion euros to 4.66 billion euros compared to the same period last year. EBITDA decreased from 233.6 million euros to 116.8 million euros, and the pre-tax profit that was 11.5 million euros in the same period last year declined to -83.8 million euros in the first half of this year. The post-tax result was -88.9 million euros, and earnings per share stood at -1.68 euros. Return on Capital Employed (ROCE) decreased to -1.6%, while the equity ratio remained strong at 42.2%.
In the first half of 2025, sales by business units were as follows: Steel Production 1.70 billion euros, Steel Processing 597.6 million euros, Trade 1.43 billion euros, Technology 844.8 million euros, and Industrial Participations/Consolidation 87.4 million euros. In terms of EBITDA, steel production recorded 65.6 million euros, steel processing -39.8 million euros, trade 25.2 million euros, technology 69.5 million euros, and industrial participations/consolidation -3.7 million euros. Pre-tax profit was reported as -55.6 million euros for steel production, -63.4 million euros for steel processing, 10.9 million euros for trade, 54.7 million euros for technology, and -30.3 million euros for industrial participations/consolidation.
Gunnar Groebler, CEO of Salzgitter AG, stated, "In a challenging geopolitical environment, our focus remains on diligent cost and performance management, our SALCOS® project for transitioning to carbon-free steel production, and delivering messages to policymakers highlighting the strategic importance of the steel sector. Our modular structure enables us to make the right investment at the right time in tight market conditions."
Chief Financial Officer Birgit Potrafki mentioned that they have accelerated internal measures to increase profitability and maintain liquidity, stating that the P28 Performance Program generated an additional profit of 48 million euros in the first six months. She also emphasized the expectation that the net financial debt will remain below the projected level of 1.5 billion euros by the end of the year.
The expectations for the 2025 fiscal year were shared as sales between 9.0-9.5 billion euros, EBITDA between 300-400 million euros, pre-tax result between -100 million and 0 million euros, and slightly higher return on capital compared to the previous year. The company highlighted that changes in selling prices, input costs, capacity utilization, and fluctuations in exchange rates could positively or negatively affect performance.
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