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Macroeconomic environment marked by negative development throughout the course of the year.
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Toward the end of the year, economic stabilization at a low level in the wake of measures to reduce debt in Europe and the USA as well as a recovery trend in China.
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Subdued demand in the most important industry segments (construction and construction supply industries, automobile industry, energy sector); stable, positive development only in aerospace sector and railway infrastructure.
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In December, long-term Group strategy of continued value-added growth until 2020 resolved; revenue target EUR 20 billion.
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Despite continuing difficult economic environment, ongoing solid performance in all business segments of the Group; almost full utilization of capacity in all major production facilities.
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In a year-to-year comparison, largely stable revenue performance: currently EUR 8,652.5 million compared to EUR 8,877.2 million in the first nine months of the previous year (decrease of 2.5%).
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Results decline slightly due to overall difficult economic trend: operating result (EBITDA) dropped by 5.9% to EUR 1,051.7 million from EUR 1,118.0 million in the previous year, profit from operations (EBIT) at EUR 615.1 million, 9.1% below previous year’s figure (EUR 676.4 million), and net income (profit for the period) at EUR 369.5 million, 10.2% weaker than in the previous year (EUR 411.4 million).
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Compared to the beginning of the business year (EUR 4,836.3 million), equity as of December 31, 2012 rose by 4.2% to EUR 5,041.5 million; during the same period, net financial debt was reduced by 3.0% from EUR 2,585.7 million to EUR 2,508.5 million due to very positive cash flow development.
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Therefore, gearing ratio (net financial debt in percent of equity) fell by 3.7 percentage points from 53.5% at the beginning of the business year (March 31, 2012) to currently 49.8% (December 31, 2012).
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Number of employees (full-time equivalent) declined since the beginning of the business year (46,473 FTE) due to the economic situation by 3.8% to 44,696 FTE as of December 31, 2012.
