Inconsistent economic trend in the first half of the business year 2013/14:
Technically, Europe is now leaving the recession behind, but the recovery trend is still modest.
In the fall of 2013, the USA is endangering the incipient recovery with political debates about the debt ceiling.
Brazil stabilizes its growth at a moderate level based on domestic demand.
China generates new growth impulses over the summer; increasing optimism in Asia (with the exception of India).
At EUR 5,723.6 million, revenue trend in the first half of 2013/14 is down slightly by 3.5% in a year-to-year comparison (previous year: EUR 5,932.8 million).
Results are slightly weaker (due in part to negative non-recurring effects amounting to EUR 10 million in the Steel Division).
At EUR 686.9 million, current operating result (EBITDA) 5.2% lower than last year’s figure of EUR 724.5 million.
At EUR 400.5 million, profit from operations (EBIT) in the first half of 2013/14 declines by 8.0% compared to EUR 435.4 million in the previous year.
Distribution of dividend in July 2013 (EUR 155.2 million) temporarily affects development of equity and gearing ratio.
Equity capital currently at EUR 5,062.3 million remains largely constant compared to the reporting date March 31, 2013 (EUR 5,075.3 million); compared to September 30 of the previous year (EUR 4,885.2 million), there is an increase by 3.6%.
Gearing ratio (net financial debt in percent of equity) rises by 2.2 percentage points to 46.7% compared to the reporting date March 31, 2013 (44.5%); however, in a year-to-year comparison, it is significantly reduced (51.0% as of September 30, 2012).
Implementation of HBI project in Texas is on schedule.