Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €54.45, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Metals and Mining industry in Europe. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €30.70 per share. Upcoming Dividend • May 28
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 04 June 2026. Payment date: 09 June 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Austrian dividend payers (4.0%). Lower than average of industry peers (2.3%). Reported Earnings • May 14
First quarter 2026 earnings released: EPS: €1.49 (vs €0.66 loss in 1Q 2025) First quarter 2026 results: EPS: €1.49 (up from €0.66 loss in 1Q 2025). Revenue: €2.35b (flat on 1Q 2025). Net income: €80.4m (up €116.2m from 1Q 2025). Profit margin: 3.4% (up from net loss in 1Q 2025). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Declared Dividend • Apr 26
Dividend of €0.20 announced Dividend of €0.20 is the same as last year. Ex-date: 4th June 2026 Payment date: 8th June 2026 Dividend yield will be 0.4%, which is lower than the industry average of 4.8%. Announcement • Apr 24
Salzgitter AG, Annual General Meeting, Jun 03, 2026 Salzgitter AG, Annual General Meeting, Jun 03, 2026, at 10:00 W. Europe Standard Time. Reported Earnings • Mar 24
Full year 2025 earnings released: €1.37 loss per share (vs €6.51 loss in FY 2024) Full year 2025 results: €1.37 loss per share (improved from €6.51 loss in FY 2024). Revenue: €9.58b (down 4.3% from FY 2024). Net loss: €74.2m (loss narrowed 79% from FY 2024). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 121 percentage points per year, which is a significant difference in performance. New Risk • Mar 23
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.0% average weekly change). Earnings have declined by 34% per year over the past 5 years. Announcement • Feb 11
Salzgitter AG (XTRA:SZG) agreed to acquire Thyrolf & Uhle GmbH. Salzgitter AG (XTRA:SZG) agreed to acquire Thyrolf & Uhle GmbH on February 11, 2026.
The transaction is subject to the fulfillment of the agreed closing conditions, in particular official approvals. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: €0.75 (vs €3.34 loss in 3Q 2024) Third quarter 2025 results: EPS: €0.75 (up from €3.34 loss in 3Q 2024). Revenue: €2.31b (down 7.1% from 3Q 2024). Net income: €40.7m (up €221.0m from 3Q 2024). Profit margin: 1.8% (up from net loss in 3Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Announcement • Nov 05
Salzgitter AG to Report Q3, 2025 Results on Nov 10, 2025 Salzgitter AG announced that they will report Q3, 2025 results on Nov 10, 2025 Announcement • Oct 02
Salzgitter AG to Report Fiscal Year 2025 Results on Mar 23, 2026 Salzgitter AG announced that they will report fiscal year 2025 results on Mar 23, 2026 Reported Earnings • Aug 12
Second quarter 2025 earnings released: €1.02 loss per share (vs €0.64 loss in 2Q 2024) Second quarter 2025 results: €1.02 loss per share (further deteriorated from €0.64 loss in 2Q 2024). Revenue: €2.34b (down 9.0% from 2Q 2024). Net loss: €55.1m (loss widened 58% from 2Q 2024). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Announcement • Aug 01
Name & Mawi Partners agreed to acquire Desma Schuhmaschinen GmbH from Salzgitter AG (XTRA:SZG). Name & Mawi Partners agreed to acquire Desma Schuhmaschinen GmbH from Salzgitter AG (XTRA:SZG) on July 30, 2025.
The transaction is expected to be completed in the autumn of 2025. Announcement • Jul 10
Salzgitter Aktiengesellschaft Receives Material Approval for Secure 500 Protection Steel The Salzgitter Group, together with its subsidiary, Ilsenburger Grobblech GmbH, has received approval from the German Military Technical Center 91 (WTD 91) in accordance with TL (Technical Delivery Conditions) 2350-0000. This officially approved steel grade SECURE 500®? in thicknesses from 6 to 16 mm for military use, for example, in vehicles or protective systems. During intensive testing, weldability and behavior under fire and blast were evaluated, among other aspects. The approval confirms the high quality and reliability of the steel and underlines Salzgitter AG's expertise as a partner for demanding defense applications. Announcement • May 22
Salzgitter AG to Report First Half, 2025 Results on Aug 11, 2025 Salzgitter AG announced that they will report first half, 2025 results on Aug 11, 2025 Announcement • May 13
Salzgitter AG Reaffirms Financial Guidance for the Financial Year 2025 Salzgitter AG reaffirmed financial guidance for the financial year 2025. The company reaffirmed the guidance from March and continue to anticipate sales of between EUR 9.5 billion and EUR 10.0 billion. Announcement • May 06
Salzgitter AG to Report Q1, 2025 Results on May 12, 2025 Salzgitter AG announced that they will report Q1, 2025 results on May 12, 2025 Announcement • Apr 11
Salzgitter AG, Annual General Meeting, May 22, 2025 Salzgitter AG, Annual General Meeting, May 22, 2025, at 10:00 W. Europe Standard Time. Declared Dividend • Mar 31
Dividend reduced to €0.20 Dividend of €0.20 is 56% lower than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 0.8%, which is lower than the industry average of 4.8%. Announcement • Mar 23
Salzgitter AG Proposes Dividend Salzgitter AG proposed dividend. The Executive Board and Supervisory Board will put forward a proposal to the Annual General Meeting of Shareholders on May 22, 2025 to distribute dividend of €0.20 per share. Reported Earnings • Mar 21
Full year 2024 earnings released: €6.51 loss per share (vs €3.70 profit in FY 2023) Full year 2024 results: €6.51 loss per share (down from €3.70 profit in FY 2023). Revenue: €10.6b (down 2.2% from FY 2023). Net loss: €352.2m (down 276% from profit in FY 2023). Revenue is forecast to stay flat during the next 3 years compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Announcement • Jan 24
Gp Günter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG submitted a non-binding offer to acquire remaining stake in Salzgitter AG (XTRA:SZG) from Lower Saxony (State of) and other shareholders for approximately €730 million. Gp Günter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG submitted a non-binding offer to acquire remaining stake in Salzgitter AG (XTRA:SZG) from Lower Saxony (State of) and other shareholders for approximately €730 million on January 22, 2025. A cash consideration valued at €18.5 per share will be paid by Gp Günter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG. The Company is in the process of examining the non-binding offer, including the price indicated. The outcome of the assessment and discussion with the Consortium is open. Reported Earnings • Nov 13
Third quarter 2024 earnings released: €3.34 loss per share (vs €0.02 profit in 3Q 2023) Third quarter 2024 results: €3.34 loss per share (down from €0.02 profit in 3Q 2023). Revenue: €2.58b (flat on 3Q 2023). Net loss: €180.3m (down €181.4m from profit in 3Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Nov 07
Gp Günter Papenburg & TSR Recycling Considers Possible Takeover Bid for Salzgitter AG Salzgitter AG (XTRA:SZG) said on November 4, 2024 that Gp Günter Papenburg Aktiengesellschaft and TSR Recycling GmbH & Co. KG (Italy) is exploring a possible takeover bid. GP Guenter would submit an offer if the consortium secures at least 45% plus one share of Salzgitter’s stock, according to the statement. The range of a possible offer price has not been unveiled. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to €19.39, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.34 per share. Announcement • Oct 01
Salzgitter AG to Report Fiscal Year 2024 Results on Mar 21, 2025 Salzgitter AG announced that they will report fiscal year 2024 results on Mar 21, 2025 New Risk • Sep 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 5.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (5.3% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • Aug 13
Second quarter 2024 earnings released: €0.64 loss per share (vs €0.34 profit in 2Q 2023) Second quarter 2024 results: €0.64 loss per share (down from €0.34 profit in 2Q 2023). Revenue: €2.57b (down 10% from 2Q 2023). Net loss: €34.8m (down 291% from profit in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 23
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 30 May 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Austrian dividend payers (5.7%). Lower than average of industry peers (3.6%). Reported Earnings • May 14
First quarter 2024 earnings released: EPS: €0.24 (vs €2.57 in 1Q 2023) First quarter 2024 results: EPS: €0.24 (down from €2.57 in 1Q 2023). Revenue: €2.81b (down 5.9% from 1Q 2023). Net income: €12.9m (down 91% from 1Q 2023). Profit margin: 0.5% (down from 4.7% in 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.7% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: €3.70 (vs €20.00 in FY 2022) Full year 2023 results: EPS: €3.70 (down from €20.00 in FY 2022). Revenue: €11.5b (down 8.7% from FY 2022). Net income: €200.1m (down 82% from FY 2022). Profit margin: 1.7% (down from 8.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.4% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 1.1%. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 15
Salzgitter AG to Report Q2, 2024 Results on Aug 12, 2024 Salzgitter AG announced that they will report Q2, 2024 results on Aug 12, 2024 Buy Or Sell Opportunity • Feb 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €23.90. The fair value is estimated to be €30.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 8.1% in 2 years. Earnings are forecast to decline by 25% in the next 2 years. Buy Or Sell Opportunity • Feb 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to €25.06. The fair value is estimated to be €31.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 8.1% in 2 years. Earnings are forecast to decline by 25% in the next 2 years. Announcement • Nov 30
Unknown co-owner owner of Borusan acquired 23% stake in Borusan Mannesmann Boru Sanayi ve Ticaret A.S. (IBSE:BRSAN). Unknown co-owner owner of Borusan acquired 23% stake in Borusan Mannesmann Boru Sanayi ve Ticaret A.S. (IBSE:BRSAN) on November 29, 2023.Unknown co-owner owner of Borusan completed the acquisition of 23% stake in Borusan Mannesmann Boru Sanayi ve Ticaret A.S. (IBSE:BRSAN) on November 29, 2023. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: €0.02 (vs €3.01 in 3Q 2022) Third quarter 2023 results: EPS: €0.02 (down from €3.01 in 3Q 2022). Revenue: €2.70b (down 14% from 3Q 2022). Net income: €1.10m (down 99% from 3Q 2022). Profit margin: 0% (down from 5.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 4.7% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Nov 14
Salzgitter AG, Annual General Meeting, May 29, 2024 Salzgitter AG, Annual General Meeting, May 29, 2024. New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 23% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.2% net profit margin). Announcement • Sep 01
Salzgitter AG Suspends Earnings Guidance for the 2023 Financial Year Aurubis AG announced that its existing guidance range for the current 2022/23 financial year cannot be maintained; revised definitive guidance was not issued. On the basis of the total number of shares in issue, Salzgitter AG holds a 29.99% interest in Aurubis AG. As this interest is included at equity, the earnings trend of the participartipation in Aurubis AG has a direct bearing on the Salzgitter Group's result for the year and forms a fixed part of the Group's results planning. For this reason, the Executive Board of Salzgitter AG is also suspending its results guidance for the current financial year for the time being and will adjust it accordingly once Aurubis AG has updated its guidance. New Risk • Aug 14
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.2% Last year net profit margin: 9.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 25% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.6% average weekly change). Profit margins are more than 30% lower than last year (4.2% net profit margin). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: €0.92 (vs €7.59 in 2Q 2022) Second quarter 2023 results: EPS: €0.92 (down from €7.59 in 2Q 2022). Revenue: €3.00b (down 8.7% from 2Q 2022). Net income: €49.8m (down 88% from 2Q 2022). Profit margin: 1.7% (down from 13% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 5.7% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 45% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (5.7% average weekly change). Earnings are forecast to decline by an average of 45% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 19
Upcoming dividend of €1.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 26 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 6.3% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Austrian dividend payers (5.5%). Lower than average of industry peers (8.9%). Reported Earnings • May 10
First quarter 2023 earnings released: EPS: €2.57 (vs €6.80 in 1Q 2022) First quarter 2023 results: EPS: €2.57 (down from €6.80 in 1Q 2022). Revenue: €3.17b (down 5.4% from 1Q 2022). Net income: €139.1m (down 62% from 1Q 2022). Profit margin: 4.4% (down from 11% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: €20.00 (vs €10.74 in FY 2021) Full year 2022 results: EPS: €20.00 (up from €10.74 in FY 2021). Revenue: €13.5b (up 39% from FY 2021). Net income: €1.08b (up 86% from FY 2021). Profit margin: 8.0% (up from 5.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 13% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Announcement • Dec 10
Falk Bouwsystemen B.V. agreed to acquire Salzgitter Bauelemente GmbH from Salzgitter AG (XTRA:SZG). Falk Bouwsystemen B.V. agreed to acquire Salzgitter Bauelemente GmbH from Salzgitter AG (XTRA:SZG) on December 8, 2022. Salzgitter Bauelemente will continue to be managed as an independent GmbH by Kai Bohmbach, the current general manager. The Salzgitter site on the steelworks premises will be retained, and Salzgitter Flachstahl will continue to supply feedstock. Administrative operations are generally to be run decentrally. The business premises and the storage location will remain in the possession of Salzgitter Flachstahl and will be leased to FALK Bouwsystemen for a minimum period of ten years, plus renewal options. The transaction is expected to close on January 1, 2023. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €3.01 (vs €4.35 in 3Q 2021) Third quarter 2022 results: EPS: €3.01 (down from €4.35 in 3Q 2021). Revenue: €3.13b (up 22% from 3Q 2021). Net income: €163.1m (down 31% from 3Q 2021). Profit margin: 5.2% (down from 9.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 17% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: €3.01 (vs €4.36 in 3Q 2021) Third quarter 2022 results: EPS: €3.01 (down from €4.36 in 3Q 2021). Revenue: €3.20b (up 25% from 3Q 2021). Net income: €163.1m (down 31% from 3Q 2021). Profit margin: 5.1% (down from 9.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 17% p.a. on average during the next 3 years compared to a 3.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Oct 08
Salzgitter AG to Report Fiscal Year 2022 Results on Mar 27, 2023 Salzgitter AG announced that they will report fiscal year 2022 results on Mar 27, 2023 Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: €7.59 (vs €2.82 in 2Q 2021) Second quarter 2022 results: EPS: €7.59 (up from €2.82 in 2Q 2021). Revenue: €3.64b (up 55% from 2Q 2021). Net income: €410.5m (up 169% from 2Q 2021). Profit margin: 11% (up from 6.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 11% compared to a 20% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
Salzgitter AG Provides Financial Guidance for the Financial Year 2022 Salzgitter AG provided financial guidance for the financial year 2022. For the year, the company expects sales in the region of EUR 13 billion. Announcement • Jun 23
Salzgitter AG Raises Its Guidance for the Financial Year 2022 Salzgitter AG announced that it raised its guidance for the financial year 2022. For the period, the company expects sales of around EUR 13 billion (previously: just under EUR 11 billion), pre-tax profit (EBT) to be between EUR 1 billion and EUR 1.2 billion (previously between EUR 750 million and EUR 900 million). Announcement • Jun 04
Salzgitter AG Proposes Dividend for the Financial Year 2022 Salzgitter AG proposed to distribute a dividend of EUR 0.75 per dividend eligible share for financial year 2022. Announcement • Jun 03
Salzgitter AG Approves Dividend for the Financial Year 2021 Salzgitter AG at its annual general meeting held on June 02, 2022 approved the dividend proposal put forward by the Supervisory Board and the Executive Board and resolved to distribute dividend of €0.75 per share for the financial year 2021. Set in the context of year-end closing price, this corresponds to a dividend yield of 2.4%. Upcoming Dividend • May 27
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 03 June 2022. Payment date: 08 June 2022. Trailing yield: 2.0%. Lower than top quartile of Austrian dividend payers (4.4%). Lower than average of industry peers (7.5%). Buying Opportunity • May 13
Now 21% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be €44.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 10% in 2 years. Earnings is forecast to decline by 58% in the next 2 years. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: €6.80 (vs €1.38 in 1Q 2021) First quarter 2022 results: EPS: €6.80 (up from €1.38 in 1Q 2021). Revenue: €3.51b (up 68% from 1Q 2021). Net income: €367.6m (up 391% from 1Q 2021). Profit margin: 11% (up from 3.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.1%, compared to a 39% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Salzgitter AG Provides Earnings Guidance for the Financial Year 2022 Salzgitter AG provided earnings guidance for the financial year 2022. For the year, the company expects an increase in sales to just under €11 billion. Announcement • Apr 22
Salzgitter AG Provides Earnings Guidance for the Year 2022 Salzgitter AG provided earnings guidance for the year 2022. In view of the strong first quarter, the company lift the earnings guidance for the financial year 2022 and now anticipate the following for the Salzgitter Group: earnings before taxes of between EUR 750 million and EUR 900 million. Buying Opportunity • Apr 20
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be €52.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 3.7% per annum. Earnings is also forecast to decline by 27% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improved over the past week After last week's 28% share price gain to €48.04, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €68.65 per share. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 19% share price gain to €40.54, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Metals and Mining industry in Europe. Total returns to shareholders of 48% over the past three years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS €4.36 (vs €1.84 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €2.65b (up 63% from 3Q 2020). Net income: €235.5m (up €334.8m from 3Q 2020). Profit margin: 8.9% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS €2.82 (vs €1.88 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €2.40b (up 52% from 2Q 2020). Net income: €152.4m (up €253.9m from 2Q 2020). Profit margin: 6.3% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • May 14
The Salzgitter Group Provides Earnings Guidance for the Year of 2021 The Salzgitter Group provided earnings guidance for the year of 2021. For the year, the company expects an increase in sales to more than EUR 8.5 billion. Reported Earnings • May 13
First quarter 2021 earnings released: EPS €1.38 (vs €0.82 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €2.21b (up 7.7% from 1Q 2020). Net income: €74.9m (up €119.6m from 1Q 2020). Profit margin: 3.4% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 16
New 90-day high: €22.99 The company is up 60% from its price of €14.36 on 18 November 2020. The Austrian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.00 per share. Announcement • Jan 22
Salzgitter AG to Report Fiscal Year 2020 Results on Mar 15, 2021 Salzgitter AG announced that they will report fiscal year 2020 results on Mar 15, 2021 Is New 90 Day High Low • Dec 28
New 90-day high: €21.44 The company is up 52% from its price of €14.08 on 29 September 2020. The Austrian market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €129 per share. Is New 90 Day High Low • Dec 07
New 90-day high: €19.03 The company is up 40% from its price of €13.62 on 08 September 2020. The Austrian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €111 per share. Announcement • Nov 20
Salzgitter AG to Report Q1, 2021 Results on May 12, 2021 Salzgitter AG announced that they will report Q1, 2021 results on May 12, 2021 Is New 90 Day High Low • Nov 16
New 90-day high: €15.01 The company is up 5.0% from its price of €14.29 on 18 August 2020. The Austrian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €145 per share. Reported Earnings • Nov 14
Third quarter 2020 earnings released: €1.84 loss per share The company reported a soft third quarter result with weaker revenues and control over expenses, though losses reduced. Third quarter 2020 results: Revenue: €1.63b (down 23% from 3Q 2019). Net loss: €99.3m (loss narrowed 22% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 92% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue misses expectations Revenue missed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 9.3%, compared to a 714% growth forecast for the Metals and Mining industry in Austria. Announcement • Oct 18
Salzgitter Aktiengesellschaft Announces Executive Changes Chief Executive Officer Prof. Dr.-Ing. Heinz J-rg Fuhrmann will have reached the age of 65 in 2021. He will therefore be retiring upon expiry of his employment contract on June 30, 2021, as planned. The Supervisory Board of the company appointed Dipl.-Ing. Gunnar Groebler as his successor, effective July 1, 2021. Mr. Groebler is currently a member of the Executive Group Management of the Swedish energy supplier Vattenfall AB, where he is responsible for the Business Area Wind. Is New 90 Day High Low • Oct 08
New 90-day high: €14.70 The company is up 20% from its price of €12.25 on 10 July 2020. The Austrian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €40.43 per share. Is New 90 Day High Low • Sep 19
New 90-day high: €14.44 The company is up 16% from its price of €12.49 on 19 June 2020. The Austrian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.18 per share.