euro adhoc: Salzgitter AG / quarterly or semiannual financial statement / SALZGITTER AG: Excellent performance in the first half of 2007, with new records set for sales and profit

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6-month report

09.08.2007

Stable economic growth ensured extremely positive conditions for
rolled steel and tubes products also in the second quarter of 2007.
Against this background, the Salzgitter Group exceeded the record
levels it has set to date for sales and operating profit in a
half-year.

Consolidated Group sales increased by 17 % to EUR 4.72 billion
(H1/06: EUR 4.03 billion). Earnings before tax (EBT) of EUR 663.6
million, generated solely through operations, significantly exceeded
last year´s already exceptionally high figure of EUR 437.9 million
(EBT H1/06 including special effects: EUR 198,8 million). Profit
after tax in the first half of 2007 came to EUR 398.7 million (H1/06:
EUR 130.0 million); earnings per share stood at EUR 6.94 (H1/06: EUR
2.27). Return on capital employed (ROCE) posted 31.4 % (H1/06: 16.6
%).

External sales by Division (EUR million):

H1 2007 (H1 2006)
Steel 1,464 (1,199)
Tubes 884 (828)
Trading 2,046 (1,758)
Services 263 (206)
Others/Consolidation 66 (43)
Group 4,723 (4,034)

Earnings before tax by Division (EUR million):

H1 2007 (H1 2006)
Steel 377.3 (203.6)
Tubes 138.9 (138.0)
Trading 121.4 (78.5)
Services 14.3 (12.1)
Others/Consolidation 11.8 (-233.3)
Group 663.6 (198.8)

All in all, on the basis of current information and in view of
expectations of the development of the procurement and sales markets,
as well as of the general conditions, and taking account of the
effects of the Profit Improvement Program, we expect the Salzgitter
Group to generate an operating EBT which clearly exceeds the one
billion euro threshold in the current year. Express reference is made
to the fact that opportunities and risks arising from currently
unforeseeable trends in sales prices, input materials and capacity
level developments, as well as changes in the currency parity, may
considerably affect performance in the course of the remaining
financial year 2007.

In view of the persisting outstanding performance in the past years,
also in a sector-specific comparison, the Management Board of
Salzgitter AG has decided to raise the return target over the average
of the steel cycle to a ROCE (return on capital employed) of 15 %. At
the same time, the medium-term target for consolidated Group sales
has been set to a range from EUR 13 to 15 billion.

For further details, please see the press release and the Interim
Report (www.salzgitter-ag.de) published today.

end of announcement euro adhoc 09.08.2007 06:30:43
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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: ir@salzgitter-ag.de

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