Salzgitter AG

Salzgitter is a holding company. Through its subsidiaries, Co. organized its businesses into five divisions. The Steel Division manufactures steel and special steels. The Tubes Division is involved with the manufacture of line pipes, HFI-welded pipes, precision tubes and stainless steel tubes. The Trading Division operates a European sales network as well as trading companies and agencies worldwide. The companies in the Services Division provide services such as data processing, telecommunications services, scrap dealing, the handling and storage of bulk cargo, transportation, and other services. The Technology Division operates in the filling and packaging technology segment.
  • TickerSZG
  • ISINDE0006202005
  • SectorIndustrial Metals & Mining
  • CountryGermany

SALZGITTER sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of SALZGITTER (DE), active in the Steel industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 15, 2020, the closing price was EUR 13.63 and its target price was estimated at EUR 9.34.

Alain William

Salzgitter : Q2 EBT contained no surprises. FY2020 guidance upgraded

>No surprise for Q2 given management preliminary report - Salzgitter published a Q2 PBT loss of €96.4m. Note that management published its preliminary figures earlier than expected (on 22 July 2020). By division, the Strip Steel BU posted a PBT of -€ 62.4m which was better than expected (ODDO BHF: -€ 84m; Q1 2020: -€ 7m). The Plate/Section BU recorded a PBT of -€ 22.8m in line with our expectations (ODDO BHF: -€ 12m; Q1 2020: -€ 4m), whereas the Mannesmann BU PBT ca...

Alain William

Salzgitter : Q2 EBT contained no surprises. FY2020 guidance upgraded

>No surprise for Q2 given management preliminary report - Salzgitter published a Q2 PBT loss of €96.4m. Note that management published its preliminary figures earlier than expected (on 22 July 2020). By division, the Strip Steel BU posted a PBT of -€ 62.4m which was better than expected (ODDO BHF: -€ 84m; Q1 2020: -€ 7m). The Plate/Section BU recorded a PBT of -€ 22.8m in line with our expectations (ODDO BHF: -€ 12m; Q1 2020: -€ 4m), whereas the Mannesmann BU PBT ca...

Alain William

Salzgitter : Q2 EBT contained no surprises. FY2020 guidance upgraded

>No surprise for Q2 given management preliminary report - Salzgitter published a Q2 PBT loss of €96.4m. Note that management published its preliminary figures earlier than expected (on 22 July 2020). By division, the Strip Steel BU posted a PBT of -€ 62.4m which was better than expected (ODDO BHF: -€ 84m; Q1 2020: -€ 7m). The Plate/Section BU recorded a PBT of -€ 22.8m in line with our expectations (ODDO BHF: -€ 12m; Q1 2020: -€ 4m), whereas the Mannesmann BU PBT ca...

Alain William

Salzgitter : H1 2020 results unexpectedly beat forecast primarily thanks to Aurubis

>H1 2020 EBT set to be less negative than expected - Yesterday, Salzgitter announced, ahead of its earnings publication on 12 August that Earnings Before Tax (EBT) for H1 2020 would be negative to the tune of € 127.8m. However, these losses were more limited than the consensus forecast (-€ 151m) and our estimate (-€ 175.7m). These results included a contribution of € 34m (equity accounted) from the copper producer Aurubis AG (H1 2019: € 56.4m). Management also indicat...

Alain William

Salzgitter : Publication surprise de résultats du S1 2020 supérieurs aux attentes grâce, surtout, à Aurubis

>L’EBT du S1 2020 sera moins négatif qu’attendu grâce à Aurubis - Le management de Salzgitter a annoncé hier, en amont de la publication de ses résultats prévue le 12 août prochain, que l’Earning Before Tax (EBT) du S1 2020 ressortirait en perte de 127.8 M€. Ces pertes sont moins importantes qu’attendu par le consensus (-151 M€) et par ODDO-BHF (-175.7 M€). Le résultat comprend une contribution de 34 M€ (mise en équivalence) dans le producteur de cuivre Aurubis AG (S1...

Alain William

ODDO : Consolidation: ThyssenKrupp’s announcements for the steel division fall flat

>ThyssenKrupp takes the bull by the horns - Despite the current challenges resulting from the COVID-19 crisis, ThyssenKrupp (TK) is pressing on with its strategic realignment. TK’s new strategy consists of: 1/ its transformation into a competitive “group of companies” with a streamlined management model; and 2/ a redefined and better structured portfolio of activities. The management plans to separate these companies into two categories: 1/ those that it wants to deve...

Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2020

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Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2020

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Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/19/2020

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Alain William ...
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 05/19/2020

We are upgrading to Buy vs Neutral on TF1 around one and a half months after our downgrade. In the intervening period, the share price has dropped by 14%, giving a negative valuation of the TV arm and in Q1, TF1 demonstrated its capacity to adjust its costs significantly. We consider the consensus forecasts to be excessively low for 2020 since the advertising market is likely to improve - Cf. equity report published. - ...

Alain William ...
  • Alexandre Iatrides
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Tegner
  • Sebastien Malafosse
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/05/2020

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SALZGITTER sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of SALZGITTER (DE), active in the Steel industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date September 15, 2020, the closing price was EUR 13.63 and its target price was estimated at EUR 9.34.

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