Special Steel Division |
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In millions of euros |
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Q1–Q3 |
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Q1 2014/15 |
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Q2 2014/15 |
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Q3 2014/15 |
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2014/15 |
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2013/14 |
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Change in % |
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04/01– |
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07/01– |
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10/01– |
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04/01– |
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04/01– |
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Revenue |
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675.9 |
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674.5 |
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678.5 |
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2,028.9 |
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1,947.1 |
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4.2 |
EBITDA |
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96.1 |
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87.3 |
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95.8 |
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279.2 |
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253.8 |
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10.0 |
EBITDA margin |
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14.2% |
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12.9% |
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14.1% |
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13.8% |
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13.0% |
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EBIT |
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61.3 |
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53.0 |
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62.0 |
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176.3 |
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154.5 |
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14.1 |
EBIT margin |
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9.1% |
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7.9% |
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9.1% |
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8.7% |
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7.9% |
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Employees (full-time equivalent) |
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12,958 |
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13,086 |
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13,334 |
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13,334 |
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12,884 |
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3.5 |
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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%.