Germany’s Salzgitter Group reported net profit of €177.2 million for January–September 2026, compared with a loss of €46.5 million a year earlier. Crude steel output rose 11.3% to 4.90 million metric tons, mainly because Hüttenwerke Krupp Mannesmann (HKM), fully acquired in July, was included in the group’s accounts.
Revenue increased 6.8% to €7.33 billion, while EBITDA climbed to €534.9 million from €224 million in the first nine months of 2025. Salzgitter also attributed higher sales to increased selling prices. Rolled steel production rose 1.6% to 3.40 million metric tons, and steel shipments increased 11.3% to 4.81 million metric tons.
The company said its results improved despite subdued economic activity and persistently weak demand in Germany and Europe amid geopolitical uncertainty, including the conflict in the Middle East. Salzgitter said revised EU trade defense measures and the introduction of the Carbon Border Adjustment Mechanism (CBAM) had improved competitive conditions for European steelmakers.
Salzgitter’s P28 performance program delivered €146 million in sustainable earnings improvements in the first nine months, exceeding its full-year target of €122 million. Since its launch in 2024, the program and measures from the previous Performance 2026 initiative have generated improvements of about €390 million. The company expects a total €575 million impact by 2028 from changes to procurement, logistics, sales and technology.
Construction continues on the first stage of Salzgitter’s SALCOS® decarbonization program: a direct reduction plant, a 100 MW electrolyzer and an electric arc furnace. The facilities are expected to have annual capacity of about 2 million metric tons of low-carbon steel, with first output scheduled for the second half of 2027. HKM began preparations in August for an electric arc furnace in Duisburg with capacity of up to 2.5 million metric tons a year. Completion is planned for 2029. HKM permanently shut down Blast Furnace A at the end of the third quarter of 2026.
For full-year 2026, Salzgitter expects revenue of about €10 billion and EBITDA of €800–875 million, up from its previous forecast of €725–825 million. Its forecast for adjusted earnings before taxes is €400–475 million.
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