Salzgitter Ag · XETR:SZG
Salzgitter — Investor Presentation (September 2025)
49 slides from Salzgitter's investor presentation, September 2025
Slide 1: Presentation of the Group
SALZGITTER AG PRESENTATION OF THE GROUP
Slide 2: Agenda
AGENDA 01 Salzgitter Group 02 Economic development and guidance 03 Strategy 04 Financials © 2025 Salzgitter AG / 2
Slide 3: Global Presence
01 Salzgitter GLOBAL PRESENCE Group Steel Production located in Germany, Steel Processing with plants in Europe; Trading and Technology have global presence © 2025 Salzgitter AG / 3
Slide 4: Group Structure and Key Data FY 2024
01 Salzgitter GROUP STRUCTURE AND KEY DATA FY 2024 Group Salzgitter Group External Sales cons.: € 1 0 . 0 b i l l i o n / EBT: € -296.2 million / Employees: 22,381 Steel Production Steel Processing Trading Technology / External Sales: € 3.4 billion / External Sales: € 1.6 billion / External Sales: €
Slide 5: Group Structure
01 Salzgitter GROUP STRUCTURE Group Salzgitter Group Salzgitter Mannesmann / Salzgitter Klöckner-Werke Steel Production Steel Processing Trading Technology Industrial Participations / Business Unit Business Unit Business Unit Business Unit Consolidation Salzgitter Flachstahl Mannesmann Precision Tub
Slide 6: External Sales 2024 by Product Group
01 Salzgitter EXTERNAL SALES 2024 BY PRODUCT GROUP Group 11% Other 43% 16% Strip steel Filling- and packaging lines 13% Tubes 9% 8% Plate Section steel Only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group Broad product portfolio © 2025 Salzgitte
Slide 7: External Sales 2024 by Customer Industries
01 Salzgitter EXTERNAL SALES 2024 BY CUSTOMER INDUSTRIES Group 9% 16% Other Vehicle construction 17% 11% Food and beverage Construction industry industry 6% 4% White goods, Mechanical engineering electrical equipment 7% 3% Re-Roller Energy sector and utilities 3% 25% Tubes producers Traders, Steel-S
Slide 8: External Sales 2024 by Regions
01 Salzgitter EXTERNAL SALES 2024 BY REGIONS Group 5% Others 8% Asia 11% 41% Americas Germany 5% Other Europe 30% Other EU Sales by consignee (only from entities within the group of consolidated companies of Salzgitter Group, excluding EUROPIPE Group) Share of ex-Germany sales by consignee 59% © 202
Slide 9: Key Data Financial Year 2024
01 Salzgitter KEY DATA FINANCIAL YEAR 2024 Group FY 2024 FY 2023 Δ Crude steel production Tt 6,391 5,709 682 External sales1 million € 10,012 10,790 -779 EBITDA million € 445 677 -232 Earnings before taxes million € -296 238 -535 Earnings after taxes million € -348 204 -552 Earnings per share (undil
Slide 10: Investments and Depreciation
01 Salzgitter INVESTMENTS AND DEPRECIATION Group (€ million) 899 583 475 295 20 4 241 286 317 329 159 2022 2023 2024 H1 2025 Scheduled Unscheduled Investments1 depreciation depreciation 1 Property, plant and equipment and intangible assets, excluding financial assets Focus on supplementary investmen
Slide 11: Agenda
AGENDA 01 Salzgitter Group 02 Economic development and guidance 03 Strategy 04 Financials © 2025 Salzgitter AG / 11
Slide 12: Raw Material and Energy Prices
02 BRAW MATERIAL AND ENERGY PRICES usiness development and strategy RAW MATERIAL PRICES (US$/t) ENERGY PRICES (€/MWh) 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 ) (Futures market front year EEX. €/MWh) (Area THE, EEX Day-Ahead €/MWh
Slide 13: Price Development CO2 Emission Allowances
02 BPRICE DEVELOPMENT CO 2 EMISSION ALLOWANCES usiness development and strategy PRICE OF CO2 EMISSION ALLOWANCES (€/t) 120 100 80 60 40 20 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Price of CO2 emission allowances on the increase since 2018; slump in early 2022 due to war in Ukraine,
Slide 14: Steel Prices
02 BSTEEL PRICES usiness development and strategy SPOT PRICES NORTHERN EUROPE (€/t) HOT-ROLLED COIL PRICES INTERNATIONAL (€/t) 1,300 1,300 1,100 1,100 900 900 700 700 500 500 300 300 Jan' 23 Jul' 23 Jan' 24 Jul' 24 Jan' 25 Jul' 25 Jan' 23 Jul' 23 Jan' 24 Jul' 24 Jan' 25 Jul' 25 HRC EXW Ruhr Plate EX
Slide 15: Steel and Metals Action Plan
02 BSTEEL AND METALS ACTION PLAN usiness development and outlook TRADE DEFENSE CBAM KEY MARKETS / ENERGY / BUREAUCRACY / Complete safeguard review (meanwhile / Details regarding an export solution / Proposal for resilience/sustainability completed) in Q4/2025 criteria for tenders in Q4/2025 / Effect
Slide 16: Key Data H1 2025
02 BKEY DATA usiness development and outlook H1 2025 H1 2024 Δ Crude steel production kt 2,926 3,329 -403 External sales1 € million 4,665 5,243 -579 EBIT € million 117 234 -117 Earnings before taxes € million -84 11 -95 Earnings after taxes € million -89 -19 -70 Earnings per share (basic) € -1.68 -0
Slide 17: Steel Production Business Unit
02 BSTEEL PRODUCTION BUSINESS UNIT usiness development and strategy Capabilities EXTERNAL SALES BY CUSTOMER INDUSTRY 2024 1 / Integrated steel works with three blast furnaces 2% 7% / Top-modern mini mill with two electric Mechanical Others arc furnaces engineering / Approx. 5.7 mt/year crude steel c
Slide 18: Steel Production Business Unit: Key Data Review
02 BSTEEL PRODUCTION BUSINESS UNIT usiness development and strategy KEY DATA REVIEW / Lower production in the strip steel segment also due to the maintenance work started on Blast Furnace C in Q1/25 H1 2025 H1 2024 Δ / Sales and earnings lower, mainly due to lower selling prices External sales milli
Slide 19: Steel Processing Business Unit
02 BSTEEL PROCESSING BUSINESS UNIT usiness development and strategy Capabilities EXTERNAL SALES BY CUSTOMER INDUSTRY 2024 1 / Own crude steel supply via 30% participation in Hüttenwerke Krupp Mannesmann GmbH 18% / Two rolling mills for plate with 1.1 mt annual capacity 23% Vehicle construction Other
Slide 20: Steel Processing Business Unit: Key Data Review
02 BSTEEL PROCESSING BUSINESS UNIT usiness development and strategy ECKDATEN REVIEW / Heavy plate: Decreased shipment volumes and lower price level H1 2025 H1 2024 Δ / Line pipes: Significantly improved results External sales million € 598 859 -262 / Precision tubes: Lower loss than in the previous
Slide 21: Trading Business Unit
02 BTRADING BUSINESS UNIT usiness development and strategy Capabilities EXTERNAL SALES BY CUSTOMER INDUSTRY 2024 1 / Own distribution network for steel products with 9% 5% warehousing sites in Europe Mechanical engineering Other / Processing group specialized in heavy 10% plate products Re-roller 6%
Slide 22: Trading Business Unit: Key Data Review
02 BTRADING BUSINESS UNIT usiness development and strategy KEY DATA REVIEW / Declining sales volumes due to weak demand and the H1 2025 H1 2024 Δ location and product portfolio adjustments made during the reporting period External sales million € 1,430 1,604 -174 / International affected by trade po
Slide 23: Technology Business Unit
02 BTECHNOLOGY BUSINESS UNIT usiness development and strategy Capabilities EXTERNAL SALES BY CUSTOMER INDUSTRY 2024 1 / 16 production plants worldwide / > 90% of sales outside of Germany 4% 1% Vehicle Energy sector and construction utilities Core competences and products / KHS: Among the top 3 globa
Slide 24: Technology Business Unit: Key Data Review
02 BTECHNOLOGY BUSINESS UNIT usiness development and strategy KEY DATA REVIEW / Order intake significantly above previous year's level H1 2025 H1 2024 Δ / KHS continues positive earnings trend, improvement over previous year External sales million € 845 871 -26 / EBITDA nearly at same level as compa
Slide 25: Industrial Participations
02 BINDUSTRIAL PARTICIPATIONS usiness development and strategy Activities that are not directly allocated to KEY DATA FY 2024 a business unit Consolidated sales €m 186 Core competences and participations Earnings before taxes €m 144 Services: Core workforce (12/31) 2,573 / Research and development f
Slide 26: Management Guidance
02 BMANAGEMENT GUIDANCE usiness development and strategy We anticipate the following for the Salzgitter Group in the financial year 2025 / sales of between € 9.0 billion and € 9.5 billion, / EBITDA of between € 300 million and € 400 million, / a pre-tax result of between € -100 million and € 0 milli
Slide 27: Agenda
AGENDA 01 Salzgitter Group 02 Economic development and guidance 03 Strategy 04 Financials © 2025 Salzgitter AG / 27
Slide 28: Vision and Mission
03 SVISION trategy AND MISSION PIONEERING FOR PARTNERING FOR CIRCULAR SOLUTIONS TRANSFORMATION We are the market leader for Together we will resolutely circular economy solutions in chart new courses, transform global industrial value chains industry, and create sustainable with our innovative produ
Slide 29: Holistic Approach for Economic Stability: Organic Growth
03 SHOLISTIC trategy APPROACH FOR ECONOMIC STABILITY ORGANIC GROWTH INITIATIVES & PERFORMANCE MEASURES © 2025 Salzgitter AG / 29
Slide 30: Holistic Approach: Organic Growth Initiatives by Unit
03 SHOLISTIC trategy APPROACH FOR ECONOMIC STABILITY STEEL PROCESSING TRADING TL approval for SECURE® 500, further Expansion of green steel in the Middle East approvals expected in the second half and scrap in Africa and Southeast Asia of the year Marketing of high-quality heavy plate, Impulses from
Slide 31: Holistic Approach: Portfolio, Structure and Performance Measures
03 SHOLISTIC trategy APPROACH FOR ECONOMIC STABILITY PORTFOLIO ECONOMIC MEASURES Sale of the Mannesmann Stainless Tubes Group Consistent implementation of restrictive investment approvals, Trading: sale of business staffing levels and budget adjustments to Hoberg & Driesch Focused cash management Pa
Slide 32: Profit Improvement Program P28
03 SPROFIT trategy IMPROVEMENT PROGRAM P28 EFFECTS OF MEASURES P28 FY 2025 (million €) 100 90 80 70 60 50 1 2 2 97 40 15 30 65 48 20 28 10 0 2024 Cumulative Steel Production Steel Procecessing Trading Technology Ind. Participations H1 2025 cumulative Target 2025 2025 measures on track – three quarte
Slide 33: Ambition: Become Market Leader in Circular Economy
03 SAMBITION: trategy TO BECOME MARKET LEADER IN CIRCULAR ECONOMY KEY POINTS / For us, circularity means using resources for as long as possible and minimizing the supply of new resources / Together with our partners, we want to be pioneers and help shape the standards of the circular economy / In o
Slide 34: Salzgitter AG's Decarbonization Approach
03 SSALZGITTER trategy AG'S DECARBONIZATION APPROACH SCIENCE-BASED HOLISTIC IMPACT-ORIENTED TRANSPARENT Our goals are based on globally We consider both our direct impacts We focus on cost-efficient We regularly communicate our recognized scientific findings to and those in the upstream and measures
Slide 35: SALCOS: Complete Realization Planned by 2033
03 SSALCOS trategy ® : COMPLETE REALIZATION PLANNED BY 2033 KEY POINTS / SALCOS®: investment eligibility achieved, own funds approved / Green steel as core of our business model at the Salzgitter location / We plan to implement the final transformation by 2033 / This is the course we will chart to r
Slide 36: SALCOS: Controlling Choke Points at an Early Stage
03 SSALCOS trategy ® : CONTROLLING CHOKE POINTS AT AN EARLY STAGE CHOKE POINTS SIMPLIFIED SALCOS® VALUE CHAIN (Critical choke points in the value chain of sustainable steel production) Raw materials Iron and steel production Rolling and downstream processing Sales 1. Access to sources for high- 01 0
Slide 37: SALCOS Stage 1: #WeMakeItHappen
03 SSALCOS trategy ® STAGE 1: #WEMAKEITHAPPEN / All major facilities are under construction / Total investment volume € 2.3 billion / 600 – 1,000 additional people from various companies on the construction site / Construction activities parallel to production operations / Energy supply on the right
Slide 38: Defense: Expansion of the Portfolio
03 SDEFENSE: trategy EXPANSION OF THE PORTFOLIO PARADIGM SHIFT IN DEFENSE CAPABILITIES / Geopolitical tensions set new standards for defense capabilities / Increasing demand for steel, protection steels and special grades F O C U S O N D E F E NSE C A PA B I L I T Y A ND S E C U RI T Y / The Salzgit
Slide 39: Defense: SECURE Protection Steels
03 SDEFENSE: trategy SECURE PROTECTION STEELS SECURE protection steels / Excellent protection against bullet and blast hazards / Optimized combination of high tensile strength, very good toughness and hardening / Weight optimization thanks to very tight thickness tolerances / Good further processing
Slide 40: Germany: Special Fund for Infrastructure
03 SGERMANY trategy – SPECIAL FUND FOR INFRASTRUCTURE IMPLICATIONS FOR SALZGITTER GROUP / Estimate by the German Institute for Economic Research: / Germany's economic output due to special assets about 1 % higher from next year / Increase to over 2 % from 2027 / Public investment would reach its hig
Slide 41: Agenda
AGENDA 01 Salzgitter Group 02 Economic development and guidance 03 Strategy 04 Financials © 2025 Salzgitter AG / 41
Slide 42: Key Data per 2025/06/30
04 FKEY DATA PER 2025/06/30 inancials H1 2025 H1 2024 Δ Q2 2025 Q1 2025 Crude steel production kt 2,926 3,329 -403 1,374 1,553 External sales1 € million 4,665 5,243 -579 2,335 2,329 EBITDA € million 117 234 -117 38 79 Earnings before tax € million -84 11 -95 -56 -27 Earnings after tax € million -89
Slide 43: Income Statement
04 FINCOME inancials STATEMENT Income Statement (€ million) H1 2025 H1 2024 Δ Sales 4,664.7 5,243.2 -578.5 Increase/decrease in finished goods and work in process/other own work capitalized -165.4 89.8 -255.2 4,499.2 5,333.0 -833.8 Other operating income 312.8 216.1 96.8 Cost of materials 2,937.1 3,
Slide 44: Consolidated Balance Sheet: Assets
04 FCONSOLIDATED inancials BALANCE SHEET Assets (€ million) 06/30/2025 12/31/2024 Δ Non-current assets 5,107.2 4,991.6 115.6 Intangible assets, property, plant and equipment 2,900.2 2,849.2 51.0 Investment property 63.8 65.5 -1.7 Financial assets 28.4 26.2 2.2 Investments accounted for using the equ
Slide 45: Consolidated Balance Sheet: Equity and Liabilities
04 FCONSOLIDATED inancials BALANCE SHEET Equity and liabilities (€ million) 06/30/2025 12/31/2024 Δ Equity 4,351.6 4,448.9 -97.3 Subscribed capital 161.6 161.6 0.0 Capital reserve 257.0 257.0 0.0 Retained earnings 4,274.0 4,304.7 -30.7 Other reserves 22.6 75.8 -53.2 Unappropriated retained earnings
Slide 46: Cash Flow Statement
04 FCASH FLOW STATEMENT inancials (€ million) H1 2025 H1 2024 Δ Cash and cash equivalents at the start of the period 1,002.2 939.7 62.5 Cash flow from operating activities 81.0 -137.3 218.3 Cash flow from investment activities -243.5 -264.4 20.9 Cash flow from financial activities -47.3 45.3 -92.6 C
Slide 47: Working Capital
04 FWORKING inancials CAPITAL WORKING CAPITAL (€ million) -561 3,500 3,049 3,033 3,000 2,666 2,483 2,489 2,500 2,000 1,500 1,000 500 0 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Working capital development reflects strict working capital management and lower prices for raw materials and steel products
Slide 48: Disclaimer
DISCLAIMER Salzgitter AG LEGAL NOTE COPYRIGHTS To the extent that our Internet pages contain statements oriented towards or related to This data file and the data contained on these pages (including, among others, texts, the future, such statements are based on our current state of knowledge and the
Slide 49: Salzgitter AG: People, Steel and Technology
SALZGITTERAG People, Steel and Technology