Salzgitter Posts Rise In 2011 Net Profit

Salzgitter AG SZGPY posted a rise in its 2011 profit. Salzgitter's external revenue climbed more than 18.6% to EUR9.84 billion, versus EUR8.3 billion in the year-ago period, versus analysts' estimates of EUR9.68 billion. Its earnings before tax surged to EUR201.6 million, from EUR49 million in 2010, versus analysts' estimates of EUR200 million. Salzgitter's net profit jumped to EUR236 million from EUR30 million. However, analysts were expecting a net profit of EUR234 million. Salzgitter shares closed at $6.08 on Friday.