Financial key performance indicators

The overall steady development of the Metal Forming Division is also reflected in the comparison of the financial key performance indicators of the business year 2014/15 with those of the previous year. Despite the divestments and the associated deconsolidations of the Flamco Group in the second quarter, the plastics companies in the third quarter, and Rotec AB in the fourth quarter, revenue was practically unchanged at EUR 2,335.2 million (previous year: EUR 2,356.9 million). The divestment-related loss in revenue was compensated primarily by an expansion of activities by the Automotive Body Parts business segment, both in Europe and in the USA, China, and South Africa. While the Warehouse & Rack Solutions and Precision Strip business segments reported slight increases in revenue, the revenue generated by the Tubes & Sections business segment was somewhat below that of the previous year. In terms of earnings, performance was clearly positive, not least due to the non-recurring effects described in the Chapter “Acquisitions / Divestments.” The operating result (EBITDA) improved by 19.9% from EUR 276.4 million to EUR 331.3 million. Excluding the non-recurring effects, there is a decline of 2.5% to EUR 269.4 million. Thus, the EBITDA margin in the business year 2014/15 is 14.2% (adjusted 11.5%) compared to 11.7% in the previous year. Percentage-wise in a similar range as the operating result, profit from operations (EBIT) rose by 21.1% from EUR 182.3 million (margin: 7.7%) to EUR 220.7 million (margin: 9.5%). Without taking the non-recurring effects into account, EBIT was reduced by 3.7% to EUR 175.5 million, with the EBIT margin at 7.5%.

Quarterly development of the Metal Forming Division

In millions of euros
Business year 2014/15

A comparison of the fourth quarter with the immediately preceding quarter shows a revenue increase of 5.6% from EUR 561.6 million to EUR 592.8 million, due primarily to a slight upward trend in the Tubes & Sections business segment. With regard to the earnings trend, both EBITDA and EBIT showed a clear improvement in the fourth quarter compared to the immediately preceding quarter. The rise in EBITDA by 19.0% from EUR 60.5 million (margin: 10.8%) to EUR 72.0 million (margin: 12.1%) is largely due to the more attractive market environment in the Tubes & Sections business segment. EBIT improved accordingly, going up by 41.6% from EUR 37.5 million to EUR 53.1 million. This resulted in an increase of the EBIT margin from 6.7% to 9.0% comparing the third and fourth quarters.

As of the end of the business year 2014/15, the number of employees (FTE) in the Metal Forming Division was 10,328 or 9.5% below last year’s figure (11,416 employees). The reduction in headcount is the result of divestments in the business year under review.