Special Steel Division |
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In millions of euros |
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1 Q |
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2 Q |
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1 H |
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2013/14 |
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2014/15 |
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2013/14 |
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2014/15 |
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2013/14 |
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2014/15 |
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Change in % |
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04/01– |
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04/01– |
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07/01– |
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07/01– |
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04/01– |
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04/01– |
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Revenue |
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682.8 |
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675.9 |
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643.1 |
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674.5 |
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1,325.9 |
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1,350.4 |
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1.8 |
EBITDA |
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98.5 |
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96.1 |
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77.8 |
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87.3 |
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176.3 |
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183.4 |
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4.0 |
EBITDA margin |
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14.4% |
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14.2% |
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12.1% |
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12.9% |
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13.3% |
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13.6% |
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EBIT |
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65.0 |
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61.3 |
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44.8 |
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53.0 |
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109.8 |
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114.3 |
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4.1 |
EBIT margin |
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9.5% |
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9.1% |
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7.0% |
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7.9% |
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8.3% |
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8.5% |
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Employees (full-time equivalent) |
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12,884 |
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12,958 |
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12,898 |
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13,086 |
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12,898 |
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13,086 |
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1.5 |
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The development of the key performance indicators of the Special Steel Division in the first half of 2014/15 was very stable in comparison to the previous year. Despite a slight decline in the average revenue by 1.8%, revenues rose from EUR 1,325.9 million in the first half of 2013/14 to EUR 1,350.4 million in the current year. The reason is an improvement in sales volumes in all of the most important product categories. In the individual reporting categories, the Special Steel Division also improved its performance in the first six months of 2014/15. The operating result (EBITDA) rose from EUR 176.3 million to EUR 183.4 million, a gain of 4.0%, resulting in an EBITDA margin of 13.6%. At a plus of 4.1%, going from EUR 109.8 million to EUR 114.3 million, the increase in EBIT was almost identical. The EBIT margin rose slightly from 8.3% to 8.5%.
In a direct quarter-to-quarter comparison, in the second quarter of 2014/15, Special Steel Division revenue, which amounted to EUR 674.5 million, remained at practically the same satisfactory level as in the first quarter of 2014/15 (EUR 675.9 million). With respect to earnings, the division was not quite able to match the figures of the immediately preceding quarter due to seasonal factors: EBITDA fell by 9.2% from EUR 96.1 million (margin of 14.2%) to EUR 87.3 million (margin of 12.9%). At 13.5%, the drop in EBIT from EUR 61.3 million to EUR 53.0 million was somewhat more significant. Therefore, the EBIT margin fell from 9.1% to 7.9%.
As of the reporting date of September 30, 2014, the number of employees (FTE) in the Special Steel Division was 13,086, an increase of 1.5% compared to the end of the second quarter of the business year 2013/14 and 1.6% higher than the comparable figure at the end of the last business year (12,885).