Germany's Salzgitter prelim 9M sales rise on Aurubis contribution, stronger steel units; raises 2026 profit outlook
Overview
Germany steelmaker's preliminary 9M 2026 external sales rose to EUR 7.3 bln from EUR 6.9 bln
EBITDA VX and EBT VX for 9M 2026 increased sharply year on year
Company raised full-year EBITDA VX and EBT VX guidance for 2026
Outlook
Salzgitter sees 2026 sales of around €10.0 bln, unchanged from previous guidance
Company raises 2026 EBITDA VX guidance to €800 mln-€875 mln from €725 mln-€825 mln
Company lifts 2026 EBT VX outlook to €400 mln-€475 mln from €325 mln-€425 mln
Result Drivers
AURUBIS INVESTMENT - Co said higher earnings from its stake in Aurubis AG contributed significantly to results
STEEL PRODUCTION AND TRADING - Co said Steel Production and Trading units outperformed recent expectations
HKM ACQUISITION - Co said full consolidation of HKM expected to add to earnings and sales in 2026
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Sales | EUR 7.30 bln | ||
9M EBITDA VX | EUR 659 mln | ||
9M EBT VX | EUR 353 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the iron & steel peer group is "buy"
Wall Street's median 12-month price target for Salzgitter AG is €69.50, about 48% above its October 27 closing price of €46.96
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 8 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)