Development of the key figures

In the first six months of the current business year, the decrease in revenue compared to the same period of the previous year was relatively small, however, the decline of the operating result (EBITDA) was somewhat more substantial. Revenue amounting to EUR 1,178.1 million in the period under review equaled a drop of 3.2% compared to the previous year’s figure of EUR 1,216.5 million. EBITDA fell by 9.6%, going from EUR 139.6 million to EUR 126.2 million, due to the deterioration of the market environment. Accordingly, the EBITDA margin also went down to 10.7% compared to 11.5% ín the previous year.

The profit from operations (EBIT) declined from EUR 93.9 million in the previous year to EUR 81.5 million, a decrease of 13.2%. The EBIT margin dropped accordingly, from 7.7% to 6.9%.

Comparing the second quarter 2012/13 with the immediately preceding quarter also shows a similar regressive trend. Revenue amounted to EUR 567.0 million in the second quarter, a decline by 7.2% compared to the figure of EUR 611.1 million in the first quarter of 2012/13. The comparison of the second quarter with the immediately preceding one reflects the seasonal fluctuations and the less favorable economic environment so that the decline in revenue during the first half-year is not surprising. EBITDA fell by 15.8%, going from EUR 68.5 million to EUR 57.7 million, with practically all of the business segments of the Metal Forming Division being affected. At 10.2%, the EBITDA margin is slightly below that of the immediately preceding quarter (11.2%).

EBIT dropped by EUR 46.1 million to EUR 35.4 million, a decline of 23.2%. Accordingly, the EBIT margin went from 7.5% in the first quarter to 6.2% in the second quarter of the first half-year.

As of September 30, 2012, the Metal Forming Division had 11,068 employees. Compared to the previous year, this corresponds to a slight reduction in staff by 1.1%. This represents a reduction of 2.6% over the beginning of the current business year.

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