Key Points – Salzgitter returned to profitability in the first half of 2026, reporting €4.6 billion in revenue, €59 million in operating profit and €43 million in net income despite weak European steel demand.
Results benefited from wider steel margins, €97 million in P28 cost savings and a €113 million contribution from its Aurubis investment. – The company maintained its 2026 guidance of approximately €10 billion in revenue, €725 million–€825 million in EBITDA and €325 million–€425 million in pretax profit, while warning that second-half momentum may moderate due to seasonality, maintenance and the absence of one-time first-half benefits. – Salzgitter’s acquisition and transformation of HKM is expected to add mid-double-digit millions of euros to second-half earnings, but involves cutting steel capacity from 5 million to 2.5 million metric tons and employment from about 3,000 to 1,000 by 2029
The company plans roughly €900 million of gross investment in HKM’s electric-arc-furnace conversion, targeting green-steel production and a 90% CO2 reduction from late 2029. Salzgitter (ETR:SZG) reported a year-over-year improvement across all business segments in the first half of 2026, citing wider steel margins, cost-reduction measures and contributions from its Aurubis investment, while maintaining its full-year outlook. Chief Executive Officer Gunnar Groebler described the first six months as positive despite weak European steel demand, geopolitical uncertainty and volatile energy markets.
He said the company had moved “back in black” and expected to remain profitable during 2026. Revenue for the first half totaled €4.6 billion, down 1.6% from the prior-year period, a decline driven by the trading unit, according to Chief Financial Officer Birgit Potrafki. The company reported €59 million in operating profit and a net result of €43 million after taxes.