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Key figures of the Metal Forming Division |
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In millions of euros |
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2012/131 |
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2013/14 |
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Change in % |
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Revenue |
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2,310.2 |
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2,356.9 |
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2.0 |
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EBITDA |
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255.5 |
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276.4 |
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8.2 |
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EBITDA margin |
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11.1% |
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11.7% |
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EBIT |
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165.5 |
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182.3 |
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10.2 |
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EBIT margin |
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7.2% |
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7.7% |
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Employees (full-time equivalent) |
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10,853 |
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11,416 |
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5.2 |
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1 Business year 2012/13 retroactively adjusted in accordance with IAS 19 (revised). |
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Revenue in the Metal Forming Division rose in the business year 2013/14 by 2.0% from EUR 2,310.2 million to EUR 2,356.9 million, in part due to a slightly more dynamic market environment. This increase in generated revenue was due not only to improved demand in all business segments but also to an increase in earnings as a result of uncompromising measures with regard to cost optimization. The division’s operating result (EBITDA) rose by 8.2% from EUR 255.5 million in 2012/13 to EUR 276.4 million in the business year under review, which corresponds to a margin of 11.7% (previous year: 11.1%). The largest boost percentage-wise in operating result was shown in the Tubes & Sections and Material Handling business segments. Profit from operations (EBIT) increased from EUR 165.5 million to EUR 182.3 million, an improvement of 10.2%; this resulted in an EBIT margin of 7.7% (previous year: 7.2%).
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Quarterly development of the Metal Forming Division |
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In millions of euros |
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1st quarter 2013/14 |
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2nd quarter 2013/14 |
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3rd quarter 2013/14 |
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4th quarter 2013/14 |
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BY 2013/14 |
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Revenue |
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597.9 |
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567.8 |
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574.4 |
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616.8 |
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2,356.9 |
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EBITDA |
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68.5 |
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61.3 |
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64.6 |
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82.0 |
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276.4 |
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EBITDA margin |
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11.5% |
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10.8% |
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11.2% |
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13.3% |
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11.7% |
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EBIT |
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46.1 |
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39.0 |
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41.7 |
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55.5 |
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182.3 |
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EBIT margin |
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7.7% |
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6.9% |
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7.3% |
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9.0% |
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7.7% |
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Employees (full-time equivalent) |
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11,117 |
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11,185 |
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10,780 |
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11,416 |
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11,416 |
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A comparison of the fourth quarter of 2013/14 with the immediately preceding quarter confirms the positive trend, which is manifested in a considerable increase in both revenue and operating result. The solid performance in the Tubes & Sections and Automotive Body Parts business segments resulted in 7.4% higher revenue that went from EUR 574.4 million to EUR 616.8 million. At the same time, earnings improved considerably, with Tubes & Sections making the largest contribution. While EBITDA rose by 26.9% from EUR 64.6 million in the third quarter of 2013/14 to EUR 82.0 million in the last quarter of the reporting year, EBIT surged by one third from EUR 41.7 million to EUR 55.5 million. At 13.3% (EBITDA margin) and 9.0% (EBIT margin), the margins were also substantially higher than the figures in the immediately preceding quarter (EBITDA margin: 11.2% and EBIT margin: 7.3%).
As of the end of the business year 2013/14, the Metal Forming Division had 11,416 employees (FTE); this is a 5.2% increase compared to the previous year’s reporting date (10,853 employees), which was largely the result of investments.