DGAP-Ad hoc: Salzgitter

DGAP-Adhoc: Salzgitter AG: According to an initial assessment, Salzgitter AG affected by the most recent legislation of the German Federal Finance Court (Bundesfinanzhof - BFH)

Salzgitter AG / Key word(s): Legal Matter

14.01.2016 20:14

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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According to a ruling of the German Federal Finance Court published on January 13, 2016, dividend income generated by a borrower from a securities lending transaction can no longer be deemed tax exempt under certain circumstances. The ruling applies to all open tax years (regular annual tax audits). Up until now, the tax authorities have treated this type of income as tax exempt.

Similar to many other companies, the Salzgitter Group has also made use of the instrument of securities lending in the past. The Group is therefore likely to be affected by this new legislation.

In line with the principles of commercial prudence, the Salzgitter Group had formed provisions to cover any subsequent tax payments as well as the associated interest.

As a result of the extensive coverage through these provisions, our initial estimation of the burden on the Group's earnings before taxes amounts to around EUR 15 million. We nonetheless uphold our forecast for the 2015 annual result for which we anticipate earnings before taxes in the lower double-digit million euro range.

Furthermore, we expect additional tax expenses of around EUR 26 million.





Contact: Markus Heidler

Head of Investor Relations

Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter

Phone +49 5341 21-6105 Fax +49 5341 21-2570 E-Mail ir@salzgitter-ag.de

14.01.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Germany Phone: +49 5341 21-01 Fax: E-mail: info@salzgitter-ag.de Internet: www.salzgitter-ag.de ISIN: DE0006202005 WKN: 620200 Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------