In the 2022 financial year, the Dillinger Group (Aktien-Gesellschaft der Dillinger Hüttenwerke with its subsidiaries) and the Saarstahl Group (Saarstahl AG with subsidiaries) recorded major successes. The results for 2022 were significantly increased compared to 2021, despite the year being marked by political and economic upheavals.
In addition to the sharp rise in revenues on the steel market in the first half of 2022, also in view of the Russian war in Ukraine, the consistent strategic realignment of the companies in the reporting period led to this success. The flexibility required for the results achieved was created. The cost-cutting program launched in 2019 was successfully completed in 2022.
Successes despite increased costs
Constantly rising costs for input materials contrasted with the steady increase in net revenues of both companies over the course of the year. The rise in the cost of energy and raw materials posed major challenges for the economy from the middle of the year. Combined with rising inflation and massive uncertainty among consumers, this led to declining demand, particularly in the Saarstahl Group. Nevertheless, prices for the companies' products were kept stable.
In December 2022, investments of historic proportions were announced for greater climate protection. The Supervisory Boards of SHS - Stahl-Holding-Saar, Saarstahl AG and Aktien-Gesellschaft der Dillinger Hüttenwerke, the Board of Trustees of Montan-Stiftung-Saar and the Management Board of SHS - StahlHolding-Saar jointly decided to invest 3.5 billion euros - subject to public subsidies - to transform the Saarland steel industry towards the production of green steel.
From as early as 2027, up to 3.5 million metric tons of low-CO2 steel will be produced annually in the Saarland and 4.9 million metric tons of CO2 will be saved. In addition to decarbonizing its own production, the Saarland steel industry is thus laying the foundations for a new hydrogen-based value chain in the Saarland.
