In the first nine months of 2025, the Group generated revenue of EUR 6.9 billion (9M 2024: EUR 7.7 billion), EBITDA of EUR 224 million (9M 2024: EUR 320.6 million), and a pre-tax loss of EUR 72.7 million (9M 2024: EUR –141.2 million). The result includes a EUR 83.5 million contribution from the equity-accounted investment in Aurubis AG and –EUR 68.2 million in valuation losses on derivatives. Net income after tax amounted to EUR –46.5 million (9M 2024: EUR –197.7 million), corresponding to EUR –0.93 earnings per share, while return on capital employed (ROCE) stood at –0.4%. The equity ratio remained solid at 41.8%.
According to CFO Birgit Potrafki, the Group’s P28 performance program contributed an additional EUR 89 million to earnings in the first nine months, nearly achieving the annual target of EUR 97 million. “Market conditions have not improved significantly since the beginning of the year. With our own measures, we have largely offset these challenges. The positive quarterly result underlines this progress,” Potrafki said. She added that the EUR 500 million convertible bond issued in October 2025 strengthened the company’s financing structure and reflected investor confidence.
Looking ahead, Potrafki noted that newly proposed EU trade policy instruments could enhance the competitiveness of the European steel industry, while an expected economic recovery in 2026 may further improve results.
Despite a recent moderate price recovery, margins are expected to remain under pressure throughout 2025, with the positive effects of higher prices likely to materialize only next year. The Group therefore adjusted its full-year forecast as follows:
-
Revenue slightly above EUR 9.0 billion (previously: EUR 9.0–9.5 billion)
-
EBITDA between EUR 300 million and EUR 350 million (previously: EUR 300–400 million)
-
Pre-tax result between EUR –100 million and EUR –50 million (previously: EUR –100–0 million)
-
Return on capital employed slightly above the previous year’s level
Salzgitter emphasized that fluctuations in raw material costs, precious metal prices, exchange rates, and the valuation of the October 2025 convertible bond could significantly influence the final 2025 results.
Comments
No comment yet.