News from Salzgitter Group
by Hans Diederichs
Salzgitter supplies 160,000 t of longitudinally welded pipes for a pipeline project in Qatar
The Salzgitter Group has won a major supply contract for approximately 160,000 tons of longitudinally welded pipe and pipe bends for a major pipeline project in the State of Qatar.
The order was placed with the 100% Salzgitter AG owned international trading subsidiary, Salzgitter Mannesmann International GmbH. The Company is responsible for all project coordination and execution steps, in addition to being responsible for monitoring the overall supply chain.
The longitudinally welded pipes will be produced by EUROPIPE GmbH, Muelheim, which is a joint venture of Salzgitter and Dillinger (AG der Dillinger Huettenwerke). The pipe bends will be produced by the Muelheim pipe-bending plant of Salzgitter Mannesmann Grobblech GmbH. Production for the pipes and bends will commence in early 2021.
Salzgitter Group announces preliminary figures on the financial year 2020
According to the still preliminary figures now available, the Salzgitter Group closed the financial year 2020 with a pre-tax result of € –200 million (FY 2019: € –253.3 million). Due to the rigorous crisis management, the uptrend in business development in the fourth quarter, particularly in the Strip Steel, Trading and Technology business units, and the very gratifying contribution from the participating investment in Aurubis AG accounted for using the (IFRS accounting) equity method (€ 101.6 million; FY 2019: € 99.5 million, including € 27.8 million in income from an accounting adjustment in connection with the share purchase), the pre-tax result exceeds the previous year’s figure as well as the last forecast. In view of the generally more upbeat sentiment, the recent sharp increase in rolled steel prices– and with specific reference to the still imminent, virtually unquantifiable risk presented by the Corona pandemic – we assume the following for the Salzgitter Group in the financial year 2021:
- An increase in sales to more than € 8.5 billion compared with the previous year (FY 2020: € 7 billion) and
- a pre-tax profit (EBT) of between € 150 million and € 200 million.
The 2020 annual accounts for the Group are currently being prepared. Consequently, the figures cited here are provisional. The annual report on the year 2020 will be published on March 15, 2021, as scheduled.
Source: Salzgitter Group Photo: picture alliance/dpa/Archivbild