Salzgitter stock reports a EUR 40.0 million Q2 loss

Salzgitter stock reported a EUR 40.0 million net loss for Q2 2026, while the shares stood at EUR 51.85 on Xetra on September 23, 2026. The daily change was negative at 0.96 percent, keeping the stock 23.3 percent below its 52-week high of EUR 67.60.

Q2 revenue falls sequentially

Salzgitter generated EUR 2.2428 billion in revenue during Q2 2026, compared with EUR 2.3451 billion in Q1 2026. The sequential decline was 4.4 percent, showing that the recovery remains uneven even as the group advances its steel transformation.

Operating profit was negative at EUR 36.9 million in Q2, versus EUR 127.6 million in Q1. Net income also changed direction, moving from a EUR 80.4 million profit in Q1 to a EUR 40.0 million loss in Q2.

Cash flow adds pressure

Operating cash flow was negative at EUR 36.3 million in Q2 2026, after positive operating cash flow of EUR 69.6 million in Q1. Capital expenditure reached EUR 161.3 million in Q2, making cash conversion a key measure for the next reporting update.

Salzgitter's investor-relations page identifies the first-half 2026 results and lists the next nine-month report for November 12, 2026, Salzgitter states. The calendar date gives investors a concrete checkpoint for judging whether the second-quarter weakness was temporary.

Jefferies sets EUR 66 target

Jefferies maintained its Buy rating for Salzgitter and set a EUR 66 price target on September 23, 2026, according to MarketScreener. The target is 27.3 percent above the Xetra price of EUR 51.85, but the gap also reflects the stock's volatile earnings path.

Stock remains below yearly high

Salzgitter stock traded at EUR 51.85 on Xetra on September 23, 2026, with a 52-week range of EUR 23.90 to EUR 67.60. The market capitalization was EUR 2.804 billion on the same date, placing the company in the MDAX and leaving the reported Q2 loss as the central test for the recovery narrative.

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