Salzgitter Group Q3/2014: Impressive Turnaround

The Salzgitter Group generated a pre-tax profit in the first nine months of 2014, thereby delivering the first positive nine-month result since 2011. Factors contributing to this impressive turnaround include primarily the impact of the "Salzgitter AG 2015" restructuring program that is increasingly taking effect and the gratifying contribution from the Aurubis investment. Compared with accounts of the first half-year, the net financial position improved notably to € 270 million (June 30, 2014: € 156 million). With an equity ratio of 37 %, the Salzgitter Group has a sound balance sheet and financial position for dealing with the ongoing structural crisis in the European steel market, while also continuing to develop its broad-based portfolio of business activities.

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