In the first two quarters of 2013/14, the Metal Forming Division’s revenue at EUR 1,165.7 million was just 1.1% under the previous year’s figure of EUR 1,178.1 million. The division was even able to grow its operating result somewhat, primarily due to the improved earnings situation in the Tubes & Sections business segment, which was aided by internal optimization measures. Accordingly, the operating result (EBITDA) increased by 3.8% from EUR 125.1 million to EUR 129.8 million, resulting in a margin increase compared to the same period in the previous year from 10.6% to 11.1%. Profit from operations (EBIT) rose even more significantly, increasing from the previous year’s figure of EUR 80.5 million by 5.7% to EUR 85.1 million. The EBIT margin rose accordingly from 6.8% to 7.3%.
A comparison of the second quarter of 2013/14 with the immediately preceding quarter shows a downward trend, not a surprising development due to the summer’s seasonal effects. All of the major business segments of the Metal Forming Division were affected by the revenue decline caused by summer vacation closures—albeit to differing degrees—with the exception of the Material Handling business segment. Overall, revenue fell compared to the previous year by 5.0% from EUR 597.9 million to EUR 567.8 million The operating result (EBITDA) dipped by 10.5% from EUR 68.5 million to EUR 61.3 million, while the EBITDA margin slipped from 11.5% to 10.8%. EBIT dropped by 15.4% from EUR 46.1 million to EUR 39.0 million, resulting in an EBIT margin in the second quarter of 2013/14 of 6.9% compared to 7.7% in the immediately preceding quarter.
At 11,185, the number of employees (FTE) in the Metal Forming Division at the end of the second quarter of the current business year was almost the same as in the previous year, showing a small plus of 1.1%. Compared to the end of the previous business year (10.853 FTE), the number of employees rose by 3.1%.