|Bid||28.58 x 50000|
|Ask||28.74 x 50000|
|Day's range||28.18 - 29.14|
|52-week range||8.54 - 29.14|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
German steelmaker Salzgitter <SZGG.DE> on Wednesday said that low capacity utilization due to the COVID-19 pandemic led to a pre-tax loss of 127.8 million euros (116.4 million pounds) in the first half, exceeding worst investor expectations. "We anticipate that the second and third quarter will likely mark the bottoming out of the current crisis," it said in a statement, adding that due to the uncertainty about the macroeconomic recovery, only a rough financial forecast was possible for the remainder of the year. Salzgitter said it now expects a 2020 pre-tax loss in a low to mid-triple digit million euro range.
Germany's second-largest steelmaker Salzgitter on Wednesday said it was not in talks with larger rival Thyssenkrupp about consolidation, pouring cold water on hopes for the creation of a national metals giant. Salzgitter said it has been successfully independent for more than two decades, but added that it remained open to ideas about what cooperation with peers could look like, provided it was beneficial for its future. Thyssenkrupp earlier this week said it was talking to peers about consolidation in the steel industry, fuelling hopes for tie-ups in Germany or Europe.
Germany's second-largest steel maker Salzgitter <SZGG.DE> said on Wednesday that it expects to post a significant 2020 pre-tax loss, most likely of more than 100 million euros ($109 million), as the coronavirus pandemic weighs on its business. Steel demand is plunging as many sectors are facing the threat of a recession, Salzgitter said, adding that key customers such as the automotive industry are bracing for a decline of more than 80%. "The stabilising tendencies on the European steel market came to an abrupt end with the restrictions placed on the economy due to the COVID-19 pandemic," Salzgitter said as it slipped to a first-quarter pre-tax loss of 34 million euros from a year-earlier profit of 126 million.