- Global economy continues to be challenging throughout most of the business year 2013/14: in Europe, stagnation at a low level in most industrial segments; volatile development in North America; low growth rates in South America; China back on a trajectory of growth after a contraction in the spring of 2013
- Considerably more positive mood since the early part of 2014; increasingly optimistic forecasts for the major economic regions
- In a year-to-year comparison, Group’s revenue drops by 2.6% from EUR 11,524.4 million to EUR 11,228.0 million due to falling raw materials prices and somewhat deflationary price trends
- In a year-to-year comparison, Group’s operating result (EBITDA) down by 3.4% to EUR 1,382.7 million (previous year: EUR 1,431.3 million); at EUR 792.3 million, profit from operations (EBIT) 6.0% below the previous year’s level (EUR 843.1 million)
- Profit before tax (EUR 656.0 million) and profit for the period (EUR 522.9 million) slightly up compared to the previous year
- Structure of statement of financial position stable despite almost EUR 1 billion in investments in an economically difficult environment: at 45.8%, gearing ratio (net financial debt in percent of equity) as of March 31, 2014 largely unchanged in comparison to the previous year (44.5% as of March 31, 2013)
- Launch of Group-wide efficiency improvement and cost optimization program expected to save EUR 900 million over the next three business years
- Financial performance of the Metal Engineering Division stable at a very high level; Special Steel Division improves slightly; two-digit growth rates in the Metal Forming Division confirm that strategic policy of focusing on the combination of materials development and processing was the right step to take
- Due to continuing weakness in the oil and natural gas industries (pipeline construction), results in Steel Division significantly reduced
- Group’s largest foreign investment, a EUR 550 million HBI plant in Corpus Christi, Texas, on schedule and precisely within the budget
- Dividend proposed to the Annual General Shareholders’ Meeting: EUR 0.95 per share, 5.6% increase compared to the previous year (EUR 0.90 per share)
- The Group
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