Germany’s Salzgitter downgrades 2019 earnings forecast

German steelmaker Salzgitter has downgraded its full 2019 earnings forecast, the company announced this week.

The forecast was corrected due to “non-recurring writedowns” amounting almost €200 million, Salzgitter said on Tuesday January 14.
Salzgitter now expects its pre-tax loss for 2019 will be €250-280 million ($278-312 million), having previously expected a pre-tax loss in “the mid-double-digit million euro range."
The company previously warned that its results would be affected by a price-fixing probe in Germany.

In December, Germany's cartel authority...

Published

Maria Tanatar

January 15, 2020

11:33 GMT

Kiev