Salzgitter AG Intensifies Cost-Cutting Efforts, Maintains Green Steel Commitment

The German steelmaker doubles its annual savings target to 500 million euros while pursuing defense and infrastructure opportunities.

Salzgitter AG reported a 348-million-euro loss in 2024, reversing a profit of 204 million euros the previous year.
The company has doubled its annual cost-saving target to 500 million euros by 2028, focusing on procurement, logistics, and sales.
Salzgitter is pressing ahead with its green steel initiative, with CO2-reduced steel production expected to begin within 18 months.
A task force has been established to explore opportunities in the defense sector, including security steel and pipes for military vehicles.
Despite financial losses, Salzgitter plans to maintain its dividend at 20 cents per share, signaling a focus on shareholder confidence.