Germany's Salzgitter H1 sales dip; profit lifted by Aurubis stake

Salzgitter AG

11/08/2026 06:39

Overview
Germany steel producer's H1 2026 sales declined slightly from prior year
EBITDA and pre-tax profit rose sharply, aided by Aurubis stake and profit improvement program
Company raised 2026 guidance after HKM acquisition, but cites ongoing geopolitical uncertainties

Outlook
Salzgitter sees 2026 sales around €10.0 bln
Company expects 2026 EBITDA VX between €725 mln and €825 mln
Salzgitter anticipates 2026 EBT VX of €325 mln to €425 mln

Result Drivers
AURUBIS STAKE - Exceptionally high earnings contribution from Aurubis participation boosted results
BUSINESS UNIT PERFORMANCE - Steel Production, Trading and Technology units delivered improved results compared to prior year
PROFIT IMPROVEMENT PROGRAM - P28 program generated € 97 mln in additional earnings effects, nearly reaching annual target by mid-year

Company press release: ID:nEQ7q6JK7a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
EUR 4.60 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "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 €65.00, about 23.8% above its August 10 closing price of €52.50
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Aug 10 - Brazilian steelmaker CSN reviews binding bids for cement business CSN Cimentos  
Aug 11 - Germany's Norma Group Q2 adjusted EBIT more than triples
Aug 11 - Uniper's first-half core profit rises on stronger gas business

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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.)