Germany's Salzgitter just misses 2025 sales expectations, EBITDA declines

Salzgitter AG

10/02/2026 12:49

Overview

Germany steelmaker's 2025 preliminary sales fell to €9.0 bln, missing analyst expectations

EBITDA for 2025 declined to €376 mln from €445 mln in 2024

Pre-tax loss improved to €28 mln from €296 mln, aided by Aurubis AG contribution

Outlook

Salzgitter expects 2026 sales of around €9.5 bln

Company forecasts 2026 EBITDA between €500 mln and €600 mln

Salzgitter projects 2026 pre-tax result between €75 mln and €175 mln

Result Drivers

AURUBIS CONTRIBUTION - Salzgitter's pre-tax result improved due to a €180 mln contribution from Aurubis AG, aided by metal price fluctuations

VALUATION EFFECTS - Negative valuation effects from an exchangeable bond impacted results by € –30 mln

ECONOMIC CONDITIONS - Germany's tight economic situation and limited recovery from government programs affected results

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Sales
Miss
EUR 9 bln
EUR 9.10 bln (13 Analysts)
FY EBITDA
EUR 376 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and 3 "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 €52.00, about 1.7% above its February 9 closing price of €51.15

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nEQ7N1qJwa

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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.)