Salzgitter : Management confirms its cautious view on 2019
>Management reiterates its conservative guidance … - Profit before tax (PBT) for 2018 came to € 347 (versus € 238m in 2017) as pre-announced on 5 February at the time of the group’s warning on its 2019 results. The 2019 PBT target of € 125-175m was reiterated, i.e. a decline of -65% to -50%. We believe that management is probably being deliberately conservative (three guidance upgrades in 2017 and two in 2018). Management says it expects: 1/ a sharp decline in profit...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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