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Salzgitter gains in early trade after third guidance upgrade of 2026

By Reuters News

** Salzgitter SZGG.DE is up 4% in early Frankfurt trade, after it raised for a third time in the year its FY guidance on Wednesday, helped by stronger steel operations and a higher earnings contribution from its Aurubis NAFG.DE stake

** The German steel producer now expects 2026 EBITDA VX of €800-875 million from €725-825 million previously

** It reported preliminary 9M EBITDA VX of €659 million ($735.58 million), above a company-compiled consensus average of €613 million

** "Strong earnings generate new upside for estimates and shares," a local trader says

** "The +8% EBITDA midpoint guidance upgrade is a positive surprise," Jefferies says, as it sees the company as a key beneficiary of EU steel protectionist measures

** The stock is at the top of German small-cap index SDAX .SDAXI

($1 = 0.8959 euros)

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