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Salzgitter: Return to profitability is approaching

In the second quarter, Salzgitter’s sales fell by almost 32 percent to 1.523 billion euros. The bottom line is that the company posted a loss per share of EUR 1.88 (previous year: EUR -0.03). The experts from Independent Research had forecast a minus of 1.61 euros per share.

The figures confirm the forecast. There should be a pre-tax loss in the low to mid three-digit million range. In the first half of the year, Salzgitter made a pre-tax minus of 128 million euros. The company sees the lowest point in the second or third quarter.

From the perspective of the analysts, there will be a loss per share of EUR 3.51 in the current year (old: EUR -2.82). In the coming year there should be earnings per share of 0.91 euros (old: 0.32 euros). So there should be a clear return to profitability in 2021.

The analysts confirm the hold recommendation for Salzgitter shares. The price target for the paper increases from 11.80 euros to 13.50 euros.

Salzgitter shares gain 3.5 percent at noon to EUR 13.825.

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