DGAP-Adhoc: SALZGITTER AG: The Salzgitter Group raises its guidance for the financial year 2022 – pre-tax profit of more than € 1 billion anticipated

The Steel Production and Trading business units continued to benefit from the clear uptrend in prices and demand across all steel products in the second quarter as well. As a result of the most recent consolidation in steel prices, we expect the above-average margins to narrow in the second half of the year. Based on an excellent half-year result already in evidence, we are nevertheless revising our guidance for the Salzgitter Group upward again. We are now anticipating:

- sales of around € 13 billion (previously: just under € 11 billion),

- a pre-tax profit (EBT) of between € 1.0 billion and € 1.2 billion (previously: between € 750 million and € 900 million) and

- a return on capital employed that is higher year-on-year (ROCE; previously: around the year-earlier level).

In the context of the above, we have taken commodity and energy costs at the current level as a basis and assume an ongoing unrestricted availability of natural gas as a precondition for maintaining production. We make specific reference to the virtually unquantifiable risks at present in connection with the war in Ukraine, the consequences of which have meanwhile also been reflected in economic institutions making significant corrections to their economic forecasts.

The financial statements for the first half year will be published on August 11, 2022, as scheduled.

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