Steelmaker Salzgitter projects massive pre-tax loss for 2020

German steelmaker Salzgitter will record a significant pre-tax loss in 2020 due to the effects of the Covid-19 pandemic, the company said on Tuesday November 3.

In its preliminary report for the first nine months of the year, Salzgitter said that only a rough estimate was possible in the current circumstances.
In its half-year report published in August, the company said that it expected its pre-tax results for the full year of 2020 to be negative in the low- to mid-triple-digit millions of euros range, but did not specify a figure. The company said that it could not provide a more detailed outlook due to the high level of market volatility caused by the pandemic.

But on November 3 the company managed to provide a more detailed view for both the...

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