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...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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