Core Viewpoint - Salzgitter faced a challenging steel market in fiscal 2025, resulting in a decline in sales but managed to stabilize earnings through cost-cutting measures and restructuring efforts, leading to a return to adjusted profitability. Financial Performance - Group sales fell to nearly EUR 9 billion, approximately EUR 1 billion lower than the previous year, primarily due to the deconsolidation of Mannesmann Stainless Tubes and weaker turnover in steel segments [3][4] - Adjusted EBT was slightly positive at EUR 2 million, while reported EBT was -EUR 28 million, which included a -EUR 30 million valuation impact from an exchangeable bond [2][7] - Gross operating cash flow reached EUR 505 million, nearly EUR 100 million higher than the prior year, with a net financial position of -EUR 954 million, better than earlier expectations [2][7] Cost Management - Key cost drivers included material costs of around EUR 5.8 billion, personnel expenses of EUR 1.9 billion, and other operating expenses of EUR 1.5 billion, with lower material costs helping to offset the sales decline [1] - The P28 performance program exceeded its 2025 target, achieving EUR 129 million against a goal of EUR 97 million, with a sustainable contribution of EUR 110 million expected [6][9] Decarbonization and Strategic Initiatives - SALCOS phase one is on track with an additional EUR 322 million tranche of funding, bringing total public support to EUR 1.3 billion, although phase two has been postponed to 2028-2029 [5][12] - The company is pursuing the acquisition of HKM, supported by EUR 200 million in grants, aiming to transform it into a "one electric arc furnace steel mill" by 2029-2030 [14][15] - Salzgitter is expanding into the defense steel market, with expectations for defense volumes to represent a single-digit percentage of sales within 2-3 years [16] 2026 Outlook - Management is cautiously optimistic about 2026, expecting stronger momentum and improved results in steel production and processing, with sales guidance of EUR 9.5 billion, adjusted EBITDA of EUR 500-600 million, and a pre-tax result of EUR 75-175 million [17][19] - A dividend of EUR 0.20 per share is proposed, unchanged from 2024, reflecting ongoing investment needs and market uncertainty [17]

Core Viewpoint - Algoma Steel Group Inc. emphasizes its commitment to sustainability as a strategic priority, particularly through the completion of its Electric Arc Furnace (EAF) project, which aims to significantly reduce carbon emissions and position the company as a leading producer of green steel in Canada [2][6]. Group 1: Sustainability Report Highlights - The 2024 Sustainability Report covers a nine-month transition period from April 1 to December 31, 2024, aligning with the company's financial reporting period [1]. - The report showcases Algoma's advancements in enterprise risk management and integrated business planning, enhancing governance and operational reliability [2]. - Algoma's EAF project is expected to reduce carbon emissions by approximately 70%, marking a significant step towards decarbonization in the steel industry [2][6]. Group 2: Commitment to Transparency - The report is prepared in accordance with the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), highlighting Algoma's dedication to transparency and long-term value creation [3]. Group 3: Company Overview - Algoma Steel Group Inc. is a fully integrated producer of hot and cold rolled steel products, serving various sectors including automotive, construction, energy, defense, and manufacturing [5]. - The company operates one of the lowest-cost producers of hot rolled sheet steel in North America, with a focus on customer-driven product solutions [5].