Salzgitter Aktiengesellschaft

  • WKN: 620200
  • ISIN: DE0006202005
  • Land: Deutschland

Nachricht vom 08.12.2020 | 19:31

Salzgitter Aktiengesellschaft: Salzgitter AG under obligation to pay back capital gains tax

Salzgitter Aktiengesellschaft / Key word(s): Miscellaneous
Salzgitter Aktiengesellschaft: Salzgitter AG under obligation to pay back capital gains tax

08-Dec-2020 / 19:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


In connection with the ruling of the Federal Fiscal Court (Bundesfinanzhof) on structured securities lending transactions in 2016, Lower Saxony's tax authority has informed Salzgitter AG that the capital gains tax on structured securities lending transactions allowed for over the period from 2006 to 2011 must be repaid.

Salzgitter AG intends to lodge an appeal. The securities lending transactions in question are not cum/cum nor are they cum/ex transactions.

Preliminary calculations show that the capital gains tax to be repaid (including solidarity surcharge and interest) amounts to about €100 million. Consequently, the pre-tax result of 2020 will be reduced by approximately €25 million; we anticipate additional tax expenses of around €75 million.

In view of the good performance of our business in the fourth quarter of 2020, we are standing by our forecast for this year's pre-tax result.

 

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

08-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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