Financial key performance indicators

Revenue of the Special Steel Division went up in the first three quarters of 2014/15 compared to the same period of the previous year by 4.2%, going from EUR 1,947.1 million to EUR 2,028.9 million. While the price level remained largely constant, delivery volumes were considerably increased, which resulted in a positive development of the division’s earnings situation. Consequently, at EUR 279.2 million, the operating result (EBITDA) in the first three quarters of 2014/15 was 10.0% above last year’s figure of EUR 253.8 million. Therefore, the division’s EBITDA margin was 13.8% in the third quarter of the business year 2014/15, a noticeable increase compared to the previous year (13.0%). The development of profit from operations (EBIT) is similar, with a boost by 14.1% from EUR 154.5 million (margin of 7.9%) to EUR 176.3 million (margin of 8.7%).

In a direct comparison of the second and third quarters of 2014/15, revenue rose by 0.6% from EUR 674.5 million to EUR 678.5 million. Despite substantial seasonal effects in December 2014, the division achieved this stable performance as a result of good sales in the USA and China, combined with a slightly higher price level. Against the backdrop of a price increase at the end of the second quarter of 2014/15, both the operating result (EBITDA) and profit from operations (EBIT) improved. While EBITDA went up by 9.7% from EUR 87.3 million to EUR 95.8 million, EBIT even rose by 17.0% from EUR 53.0 million to EUR 62.0 million. Therefore, in a comparison with the immediately preceding quarter, the EBITDA margin went up from 12.9% to 14.1% and the EBIT margin went from 7.9% to 9.1%.

The number of employees (FTE) in the Special Steel Division as of the end of the third quarter of 2014/15, was 13,334, a gain of 3.5% compared to the same quarter of 2013/14 (12,884 FTE); the increase compared to the figure at the end of the last business year (12,885 FTE) was also 3.5%.