April 24 (Reuters) - Salzgitter said on Monday
its earnings in the first quarter of 2023 almost halved
year-on-year as high energy costs and a pivot towards more
climate-friendly production weighed on the German steelmaker.
According to preliminary results, the group generated
earnings before interest, taxes, depreciation and amortization
of 290 million euros ($318.45 million), compared to 548 million
euros in the first quarter of 2022.
First-quarter profit before taxes fell around 60%
year-on-year to 183 million euros.
The company said the quarterly results exceeded current
capital market expectations.
"Irrespective of the strong start into the year, we maintain
our sales and earnings forecast from March 27, 2023, due to the
volatile political and economic environment," Salzgitter said in
a statement.
The group is targeting sales of around 13 billion euros this
year and pre-tax profit of between 300 and 400 million euros.
($1 = 0.9107 euros)
(Reporting by Anna Mackenzie and Hakan Ersen, Editing by Rachel
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