EANS-News: The Salzgitter Group records improvement in results in the third quarter of 2009

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9-month report

Salzgitter (euro adhoc) - Since the general economic conditions
started to brighten over the course of the first half year 2009, the
Salzgitter Group achieved a notable improvement in results in the
third quarter. The impact of the global financial crisis, however,
was still evident so that the Group´s broad and equally sound
business base has proven extremely advantageous against this
backdrop. Positive contributions of the Tubes Division, the Aurubis
participation and financial investments were unable to compensate for
the results of the Steel, Trading and Technology divisions that were
particularly hard hit. The extensive program of short-term
cost-cutting measures had a notably easing effect. Consolidated
external sales dropped 38 % to EUR 5,960.3 million (first nine months
of 2008: EUR 9,638.7 million) in the first three quarters and the
pre-tax loss came to EUR 261.3 million (first nine months of 2008:
EUR +1,013.9 million), with a modest uptrend in the summer quarter.
In interpreting the third-quarter pre-tax result (EUR -66.1 million),
the fact that a number of larger plant in the Steel and Tubes
divisions as well were idled for a period of several weeks for
planned maintenance and investment measures, along with lower
capacity utilization due to market conditions, must be taken into
account. From its first-time consolidation in January 2009, the 23 %
stake in the copper producer Aurubis AG, a company consolidated at
equity, contributed a gratifying EUR 38.7 million in profit to the
consolidated after-tax result of EUR -232.1 million (first nine
months of 2008: EUR +689.0 million). This brings the loss per share
to EUR -4.33 (first nine months of 2008: EUR +12.30).

External sales by Division (EUR million):

9M 2009 (9M 2008)
Steel 1,231.1 (2,441.6)
Trading 2,397.3 (4,271.6)
Tubes 1,541.6 (1,604.1)
Services 224.7 (428.5)
Technology 531.6 (787.0)
Others 33.9 (105.9)
Group 5,960.3 (9,638.7)

Earnings before tax by Division (EUR million EBT):

9M 2009 (9M 2008)
Steel -213.4 (520.3)
Trading -90.5 (222.5)
Tubes 121.7 (234.1)
Services -1.7 (25.6)
Technology -75.5 (15.4)
Others -1.9 (-4.0)
Group -261.3 (1,013.9)

We assume that the consolidated pre-tax result of the last three
months of the financial year will continue to move in the direction
of breakeven. The moderate uptrend in one of the most difficult
financial years in the 150 year history of the Group will therefore
persist. As in recent years, we make reference to the fact that
opportunities and risks from currently unforeseeable trends in
selling prices, input materials and capacity level developments, as
well as changes in the currency parity, may still affect the results
of the financial year 2009. Additional positive or negative effects
may emanate from changes of a structural and methodological nature;
this applies especially to measurement under IFRS standards and their
treatment. The resulting fluctuation in the consolidated pre-tax
result may be within a considerable range, either to the positive or
to the negative.

More information can be found in the full press release and interim
report published today. (see www.salzgitter-ag.de).

end of announcement euro adhoc
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ots Originaltext: Salzgitter AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Bernhard Kleinermann

Tel.: +49 (0) 5341-21-3783

E-Mail: kleinermann.b@salzgitter-ag.de

Branche: Iron & Steel
ISIN: DE0006202005
WKN: 620200
Index: DAX, Midcap Market Index, CDAX, Classic All Share, Prime All
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