Contingencies are potential liabilities not shown on the balance sheet which are disclosed in the amount of their fixed value on the balance sheet date. Their aggregate amount is € 128.4 million (previous year: € 140.2 million).
The contingencies include sureties and guarantees totaling € 82.5 million (previous year: € 100.5 million). Based on past experience, the probability of their being utilized can be regarded as low.
Neither Salzgitter AG nor any of its Group companies are engaged in current or foreseeable legal or arbitration proceedings that might have a significant effect on their financial position. Adequate provisions have been formed at the respective Group companies to cover potential financial burdens arising from legal proceedings or arbitration.