euro adhoc: Salzgitter AG
quarterly or semiannual financial statement
Steel,
Tubes and Trading post record sales and excellent results in the first quarter
of 2006
12.05.2006 – 07:14
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
12.05.2006
Boosted by a market for rolled steel, which developed much more favorably than envisaged a few months ago, and the persistently robust demand for tubes, the Salzgitter Group raised the operating results of its divisions in the first three months of 2006 as against the last quarter of 2005.
Consolidated external sales rose to EUR 1.98 billion (Q1 2005: EUR 1.77 billion). With operating results at EUR 198.9 million, pre-tax profit after expenditure of EUR 148.7 million in relation to hedging transactions stood at EUR 50.2 million (Q1 2005: 253,5 Mio. EUR). After-tax profit came in at EUR 35.7 million. Return on capital employed amounted to 8.8 % (before the aforementioned special effect: 31.9 %; Q1 2005: 52.0 %).
External sales by Division (EUR million):
Q1 2006 (Q1 2005) Steel 606 (574) Tubes 398 (313) Trading 866 (797) Services 93 (81) Others/Consolidation 20 (0) Group 1,983 (1,765)
Earnings before taxes by Division:(EUR million)
Q1 2006 (Q1 2005) Steel 104.4 (166.4) Tubes 62.2 (77.2) Trading 30.1 (26.3) Services 5.7 (3.4) Others/Consolidation -152.2 (-19.8) Group 50.2 (253.5)
On the basis of the information currently available and estimates concerning trends in the procurements and sales markets as well as the general framework conditions, and taking account of the effects of the profit improvement program, the Salzgitter Groups operating pre-tax result is expected to reach at least EUR 600 million in the current year. This forecast is, of course, net of the special effects arising from hedging transactions which are, by nature, not foreseeable as they depend on the development of the share price of Vallourec S.A. 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 considerably affect performance in the course of the remaining financial year 2006. The resulting fluctuation in the consolidated pre-tax result may, as experience has shown, be within a considerable range.
For further details, please see the press release and the Interim Report for the 1st Quarter of 2006 (www.salzgitter-ag.de) published today.
end of announcement euro adhoc 12.05.2006 06:38:32
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, CDAX, HDAX
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Niedersächsische Börse zu Hannover / official dealing
Original-Content von: Salzgitter AG, übermittelt durch news aktuell