EANS-Adhoc: SALZGITTER AG - Key data of the financial year 2011
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 05.03.2012 Sound profit trend in the financial year 2011 The Salzgitter Group reported a gratifyingly sound performance in 2011, a year determined by economic and political uncertainty in many parts of the world. Earnings before tax (201.6 million; 2010: 48.9 million EUR) more than quadrupled on the back of substantial sales growth, which was mainly attributable to the generally favorable economic conditions for rolled steel and tubes products. The result includes EUR 39.5 million on balance in non-recurrent burdens on the result. Profit after tax stood at EUR 236.0 million (2010: EUR 30.0 million), thereby exceeding the year-earlier results thanks to tax optimization measures that will gradually unfold their effects in the coming years. Basic earnings per share come to EUR 4.31 (2010: EUR 0.55). With an equity ratio of 45.5 % and more than EUR 500 million available under the net financial position, Salzgitter AG has a sound balance sheet and an exceptionally solid financial footing, also after the completion of an extensive investment program costing EUR 2 billion. Key data: External sales (EUR million) FY 2011 (FY 2010) Steel 2,739.7 (2,268.6) Trading 3,903.9 (2,958.2) Tubes 1,686.8 (1,736.1) Services 457.3 (413.1) Technology 966.6 (872.9) Other/Consolidation 85.3 (55.9) Group 9,839.5 (8,304.6) EBT (EUR million) FY 2011 (FY 2010) Steel 25.7 (-100.6) Trading 60.6 (71.4) Tubes 67.3 (59.9) Services 19.6 (26.2) Technology -79.1 (-30.3) Other/Consolidation 107.4 (22.3) Group 201.6 (48.9) A recent deterioration in Europe's debt crisis is unquestionably the major risk for macroeconomic development in 2012. Making reliable statements on the development of the business situation in the coming quarters is as impossible as giving a sound, detailed earnings forecast for the Salzgitter Group at the current point in time. If, however, one assumes that there will be no drastic recessionary developments, we anticipate that, based on the expectations of the individual divisions, sales will remain stable at minimum, and that a positive earnings before tax can be delivered in 2012. From today´s standpoint, delivering a repeat of the previous year´s results will be challenging, as the start to the new year appears to be marked by dampening effects on the course of business in the Steel and Tubes divisions. As in recent years, we make reference to the fact that opportunities and risks from currently unforeseeable trends in selling prices, input materials and capacity level developments, as well as changes in the currency parity, may considerably affect performance in the course of the financial year 2012. The resulting fluctuation in the consolidated pre-tax result may be within a considerable range, either to the positive or to the negative. The dimensions of this range be-come clear if one considers that, with around 12 million tons of steel products sold by the Steel, Trading and Tubes divisions, an average EUR 25 contraction in the margin per ton is sufficient to cause a variation in the annual result of more than EUR 300 million. Moreover, the accuracy of the company's planning is restricted by the volatilities and shorter contractual durations, both on the procurement and on the sales side. Disclaimer: Some of the statements made in this report possess the character of forecasts or may be interpreted as such. They are made upon the best of information and belief and by their nature are subject to the proviso that no unforeseeable deterioration occurs in the economy or in the specific market situation pertaining to the Division companies, but rather that the underlying bases of plans and outlooks prove to be accurate as expected in terms of their scope and timing. The company undertakes no obligation to update any forward-looking statements. Further inquiry note: Investor Relations +49 (0) 5341/21-1852 heidler.m@salzgitter-ag.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Salzgitter AG Eisenhüttenstraße 99 D-38239 Salzgitter phone: +49 (0) 5341-21-3783 mail: info@salzgitter-ag.de WWW: http://www.salzgitter-ag.de sector: Iron & Steel ISIN: DE0006202005 indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All Share stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
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