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Germany's Salzgitter prelim 9M sales rise on Aurubis contribution, stronger steel units; raises 2026 profit outlook

By Reuters News


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


Reuters Recommended Reads

  • Oct 28 - SSAB tops profit expectations as EU import curbs boost steel prices

  • Oct 28 - Thyssenkrupp prepares steel division for spin-off, CEO says

  • Oct 28 - Sweden's SSAB Q3 revenue rises on higher prices and shipments


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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