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Salzgitter (dpa) - After a good start to the new financial year, the Salzgitter steel group expects significantly more profits for 2021 than previously forecast.
Higher steel prices provide tailwind.
The company announced on Friday that the pre-tax result for the current year should now be between 300 and 400 million euros.
So far, the second largest German steel manufacturer after Thyssenkrupp had assumed 150 to 200 million euros.
Salzgitter had posted losses in the previous year.
The Salzgitter share recently rose to plus three percent.
According to preliminary figures, the company achieved a pre-tax profit of 117.3 million euros in the first quarter and, according to its own statements, exceeded market expectations.
The flat steel and trading sectors developed positively.
In addition, the investment in the Aurubis copper group contributed 42.5 million euros.
Salzgitter had posted a loss of 18.7 million euros here in the previous year.
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According to Salzgitter, the external sales of the group are at the previous year's level at 2.1 billion euros.
The company plans to publish further figures and details on the development on May 12th.
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