Development of the key figures

By virtue of a favorable market environment, the Railway Systems Division increased its revenue compared to the previous year’s figure of EUR 2,295.8 million, which was already comparatively healthy due to the division’s strong resistance to crisis, by a further 18.6% to EUR 2,723.3 million.

As far as the operating result is concerned, margin declines in the rails segment were more than compensated for by the very positive developments in the other business segments.

Divisional EBITDA improved in the business year 2010/11 by 14.9% from EUR 367.7 million to EUR 422.4 million, resulting in an EBITDA margin of 15.5%, only slightly lower than the previous year’s figure (16.0%). EBIT rose by 28.1% from EUR 241.2 million to EUR 308.9 million, with the EBIT margin going up from 10.5% to 11.3%.

As of March 31, 2011, the Railway Systems Division had 10,078 employees. This corresponds to a slight gain (attributable to the economic climate) compared to the previous year (9,730) of 3.6% or 348 employees.

The quarterly performance during the course of the business year 2010/11 reflects the ongoing substantial improvement of the division’s profitability while maintaining revenue at a largely constant level. Despite a marginal drop in revenue of 0.6% from EUR 695.6 million to EUR 691.4 million during the fourth quarter of the business year 2010/11the Railway Systems Division recorded both a significant improvement in EBITDA of 21.8% from EUR 107.2 million to EUR 130.6 million and an even more marked increase in EBIT of 29.8% from EUR 78.2 million to EUR 101.5 million (partly the consequence of special effects during the year) compared to the preceding quarter.