Salzgitter : Q2 results dragged down by Steel Processing
>Weak Q1 dragged down by Steel Processing - Salzgitter just reported its final Q2 results that were in line with the prelims released on 19 July. EBITDA was confirmed at € 107m, down 15% q-o-q and well below company-compiled consensus at € 130m and ODDO BHF at € 131m. The miss came mainly from Steel Processing which was strongly negative at € 36m as the key tube and plate segments registered marked drops on the back of soft market demand and high imports. The unit al...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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