Salzgitter raises earnings guidance after stronger-than-expected Q3 performance

Germany's Salzgitter AG has raised its earnings guidance for 2026 following stronger-than-expected results in the first nine months and improved performance in its steel production and trading businesses.

The group recorded external sales of EUR 7.3 bln (USD 8.2 bln) in January-September 2026, up from EUR 6.9 bln a year earlier. EBITDA increased to EUR 659 mln (USD 740 mln) from EUR 224 mln, while earnings before taxes (EBT) reached EUR 353 mln (USD 397 mln), compared with a loss of EUR 72.7 mln in the corresponding period of 2025.

The results included a EUR 252 mln (USD 283 mln) contribution from Salzgitter's equity-accounted investment in Aurubis AG, compared with EUR 83.5 mln (USD 93.8 mln) a year earlier. The company said the performance of its steel production and trading divisions also exceeded recent expectations.

Salzgitter now expects 2026 EBITDA of EUR 800-875 mln (USD 899-983 mln), compared with its previous forecast of EUR 725-825 mln (USD 815-927 mln). Its EBT guidance has been raised to EUR 400-475 mln (USD 449-534 mln) from EUR 325-425 mln (USD 365-478 mln), while sales are still expected to reach around EUR 10 bln (USD 11.24 bln).

The revised outlook also incorporates the consolidation of HKM following the completion of its acquisition. Salzgitter expects the move to add a mid-double-digit mln euro amount to both EBITDA and EBT, alongside a mid-triple-digit mln euro increase in external sales, subject to non-recurring purchase price allocation effects.

The company cautioned that geopolitical uncertainties, economic developments and fluctuations in the valuation of listed assets could affect its performance in the final quarter.

Salzgitter AG is one of Germany's leading steel firm, producing flat and long steel products, tubes and engineered solutions for the automotive, construction, energy and industrial sectors.

1 USD / 0.89 EUR