Slide 1: Analyst Conference FY 2025
SALZGITTER AG ANALYST CONFERENCE FY 2025 Back to Black
Slide 2: Occupational Safety and Health
OCCUPATIONAL SAFETY AND HEALTH STAKEHOLDER OBJECTIVE: 2018 to 2020: Data collection for Germany only LTIF Group-wide reporting starting in 2021 Including temporary workers starting in 2024 Target 7.08 12.36 LTIF Group Target 2025 9.57 8.42 8.57 7.60 7.08 achieved 6.78 7.45 6.92 2018 2019 2020 2021 2
Slide 3: Impact of the Iran War on Salzgitter AG
IMPACT OF THE IRAN WAR ON SALZGITTER AG E x t e n t o f t h e i mp a c t d e p e n d s l a r g e l y o n t he duration and intensity of the conflict / Economy: Uncertainty is fundamental in a prolonged conflict / Costs: rising freight rates (bulk cargo), higher diesel and energy prices / Macro: Infl
Slide 4: Our Strategy Is Being Consistently Implemented
OUR STRATEGY IS BEING CONSISTENTLY IMPLEMENTED Strategy PERFORMANCE TRANSFORMATION CUSTOMER-FOCUSED SOLUTIONS / Earnings stabilized and costs / SALCOS® : / Defense: further reduced / Construction work well advanced / Deepening value creation / Restructuring in the Steel / Transition to the market ph
Slide 5: SALCOS Level 1: #WeMakeItHappen
SALCOS ® LEVEL 1: #WEMAKEITHAPPEN Strategy PREPARATIONS FOR COMMISSIONING PROCEEDING AS PLANNED / Commissioning scheduled for H1 2027 / Direct reduction plant has reached its final height of 140 meters / Construction of the electric arc furnace and electrolysis facilities in full swing / Work on uti
Slide 6: Continuation of HKM
CONTINUATION OF HKM Strategy WE TAKE RESPONSIBILITY / Industrial logic / Integration of the value chain: from the liquid phase through feedstock to marketing / Securing feedstock for defense products / Synergy effects for decarbonization / Expansion of the product portfolio / Strengthening the Europ
Slide 7: Defence: Secure Protection Steels
DEFENCE: SECURE PROTECTION STEELS Strategy SECURE PROTECTION STEELS / Excellent protection combined with high tensile strength, toughness, and hardness / Weight optimization through very tight thickness tolerances / Good processability via cutting, welding, and cold and hot forming APPLICATIONS / Sp
Slide 8: Market Environment
MARKET ENVIRONMENT Political and Economic Environment GEOPOLITICAL AND TARIFF POLICIES ARE CAUSING UNCERTAINTY / Growth rates remain stable according to the latest forecasts. War in the Middle East is heightening uncertainty economic impacts will become noticeable if energy prices reach a persistent
Slide 9: Trade Policy and CBAM in 2026
TRADE POLICY AND CBAM IN 2026 Key regulatory deve lopments for the steel industry Provisional duties on Assessment which Political agreement cold rolled coil against additional sectors Trade on the new Japan, Vietnam, Turkey, Coming into force of Expiry Review Turkey could be covered by safeguard Ta
Slide 10: Price Trend for CO2 Emission Allowances
PRICE TREND FOR CO 2 -EMISSION ALLOWANCES Market Situation PRICE OF CO 2 -EMISSION ALLOWANCES (€/t) 120 100 80 64.56 60 40 20 0 2021 2022 2023 2024 2025 2026 Political statements regarding the upcoming review of the ETS weighed on the CO2 price at the beginning of 2026 – an increase is expected in t
Slide 11: Raw Material and Energy Prices
RAW MATERIAL AND ENERGY PRICES Market situation RAW MATERIAL PRICES ENERGY PRICES IRON ORE COKING COAL ELECTRICITY NATURAL GAS (62% Fe CFR C h i n a , U S $ / d m t ) (FOB Australia, U S $ / t ) (E E X fr ont - yea r fut u r es mar ket , €/MWh) (Area THE, EEX Day-Ahead €/MWh Hs) 150 400 150 150 125
Slide 12: Steel Prices
STEEL PRICES Market situation SPOT PRICES NORTHERN EUROPE (€/t) INTERNATIONAL HOT-ROLLED COIL PRICES (€/t) 1,300 1,300 1,100 1,100 968 900 900 790 750 700 705 700 705 500 500 415 300 300 Jan' 24 Jul' 24 Jan' 25 Jul' 25 Jan' 26 Jan' 24 Jul' 24 Jan' 25 Jul' 25 Jan' 26 HRC EXW Ruhr Plate EXW Ruhr Mediu
Slide 13: Key Figures
KEY FIGURES Financial Crude steel EBT VX Sales EBITDA VX production [€ million] [€ million] [€ million] [million tons] 5,880 8,981 406 2 FY 2024: 10,012 FY 2024: 445 FY 2024: -296 FY 2024: 6,391 Scope 1 ROCE Earnings per share Core GHG emissions [%] [€] workforce [kt CO2 e] 0.7 -1.4 22,014 9,364 FY
Slide 14: Development of the Business Units
DEVELOPMENT OF THE BUSINESS UNITS Salzgitter Group STEEL PRODUCTION STEEL PROCESSING TRADING TECHNOLOGY FY 2025 FY 2024 Δ FY 2025 FY 2024 Δ FY 2025 FY 2024 Δ FY 2025 FY 2024 Δ Sales €m 3,166 3,389 -231 €m 1,222 1,576 -354 €m 2,629 3,057 -428 €m 1,767 1,804 -37 EBITDA €m 170 186 -16 €m -64 -79 15 €m
Slide 15: Dividend Proposal
DIVIDEND PROPOSAL Capital ma rkets DIVIDEND (€/share) 1.20 1.00 1.00 0.80 0.75 0.60 0.55 0.45 0.45 0.40 0.30 0.20 0.20 0.20 0.00 0.00 0.00 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025e Executive Board and Supervisory Board propose to the Annual General Meeting a dividend of € 0.20 per share for
Slide 16: Back to Black
BACK TO BLACK Financials EBT VX breakeven in a challenging market environment Annual target for Performance Program P28 exceeded by 33% Restructuring advanced Liquidity further diversified Cautiously optimistic for 2026, clear upward trend in 2027 / © 2026 Salzgitter AG / 16
Slide 17: Overview
OVERVIEW Financials Operating Sales EBITDA VX EBITDA Cash Flow [€ million] [€ million] [€ million] [€ million] 8,981 406 376 504 FY 2024: 10,012 FY 2024: 445 FY 2024: 445 FY 2024: 408 Net EBT VX EBT financial position Working capital [€ million] [€ million] [€ million] [€ million] 2 -28 -954 2,457 F
Slide 18: Income Statement
INCOME STATEMENT Financials INCOME STATEMENT VALUATION EFFECT EB [€ million] -30 -1,030 -216 62 1,176 58 307 -119 -1 31 298 / 268 10 278 Change FY 2025 vs. FY 2024 (€ million) Positive impact 1 Including results from impairment and reversal of impairment of financial assets, as well as €30 million i
Slide 19: Balance Sheet
BALANCE SHEET Financials Assets Equity & liabilities / Increase in property, plant, and 10,465 10,465 10,481 10,481 10,465 10,465 10,481 10,481 equipment / non-current assets due to 4,992 4,992 5,170 5,170 4,449 4,449 4,433 4,433 SALCOS® investments / Reduced inventory (Price and working capital mea
Slide 20: Cash Flow Statement
CASH FLOW STATEMENT Financials OPERATING CASH FLOW (€ million) CASH FLOW STATEMENT 12/31/2024 VS. 12/31/2025 (€ million) FY 2024 FY 2025 504.6 408.4 190.0 503.0 233.6 125.9 NOTES 42.8 5.3 -44.8 / Cash and cash equivalents stable -142.6 / Cash outflow dominated by expenditures for SALCOS® / Cash flow
Slide 21: Investments and Depreciation
INVESTMENTS AND DEPRECIATION Financials (€ million) 899 ~875 top-up funding of € 250 million 401 583 528 2 105 295 229 4 2 478 498 317 329 299 316 2023 2024 2025 2026e Scheduled Unscheduled Investments1 SALCOS® (including subsidies) depreciation Depreciation 1 Property, plant, and equipment and inta
Slide 22: Profit Improvement Program P28
PROFIT IMPROVEMENT PROGRAM P28 Strategy EFFECTS OF P28 FOR FY 2025 (€ million) +100% +33% 140 129 5 120 33 3 10 19 4 100 77 29 80 15 60 110 97 40 65 62 20 0 Total effect 2024 Steelproduction Steel Production Steelprocessing Steel Processing Trade Technology Industrial investments Total effect (actua
Slide 23: Profit Improvement Program P28
PROFIT IMPROVEMENT PROGRAM P28 Strategy TARGET ACHIEVEMENT BY YEAR (€ m) SEGMENT TARGET CONTRIBUTION BY 2028 (€ m) ≈ 5% ≈ 5% 122 Industrial Participations Trading ≈ 10% 129 19 Technology 110 134 575 ≈ 20% ≈ 60% Steel Processing Steel Production 2022–2024 2025 Target 2026 Sustainable measures One-tim
Slide 24: Profit Improvement Program P28
PROFIT IMPROVEMENT PROGRAM P28 Strategy PURCHASING LOGISTICS & INVENTORY OPTIMIZATION Optimization of raw material composition Replacing trucks with rail or logistics concepts Raw material optimization at the Peine steelworks Prioritizing rail transport ∕ Reduction of input costs through substitutio
Slide 25: Outlook for 2026
OUTLOOK FOR 2026 Political and Economic Environment THE STEEL MARKET IS EXPECTED TO RECOVER SLIGHTLY COMPARED TO 2025 / The preliminary low point in steel demand in 2025 appears to have been passed, but the market environment remains characterized by uncertainties and weak demand / Growth in the Ger
Slide 26: Management Guidance
MANAGEMENT GUIDANCE Salzgitter Group All in all, we expect an only moderate improvement in the economic environment and anticipate the following for the Salzgitter Group in the financial year 2026 / sales of around € 9.5 billion, / EBITDA VX1 of between € 500 million and € 600 million, / a pre-tax r
Slide 27: Outlook for the Business Units
OUTLOOK FOR THE BUSINESS UNITS Salzgitter Group STEEL PRODUCTION STEEL PROCESSING TRADING TECHNOLOGY FY 2025 Forecast FY 2025 Forecast FY 2025 Forecast FY 2025 Forecast (€m) Financial Year 2026 (€m) Financial Year 2026 (€m) Financial Year 2026 (€m) Financial Year 2026 higher than in the higher than
Slide 28: Conclusion
CONCLUSION PROGRESS IN STRATEGY IMPLEMENTATION EARNINGS STABILIZED AS FORECASTED STRENGTHENS THE GROUP’S RESILIENCE P28 EXCEEDS ANNUAL TARGET – AMBITION €322 MILLION IN TOP-UP FUNDING FOR LEVEL RAISED SALCOS® APPROVED RESTRUCTURING ADVANCED KEY POINTS FOR THE CONTINUED OPERATION OF HKM AGREED TECHNO
Slide 29: Disclaimer
DISCLAIMER LEGAL NOTICE INTELLECTUAL PROPERTY RIGHTS To the extent that our website contains forward-looking or future-oriented This file and the data contained on these pages (including, but not limited to, text, statements, these statements are based on our current knowledge and the images, and gr
Slide 30: Salzgitter AG
- SALZGITTERAG People, Steel and Technolo