Financial key performance indicators

In the first quarter of 2015/16, the Steel Division’s revenue rose substantially compared to the previous year, despite a decline in prices due to the low level of prices for raw materials. The lower prices were compensated by greater delivery volumes. The completion of an order in the energy sector by the Heavy Plate business segment that had been placed at a high price was primarily responsible for the increase in revenue by 8.8% from EUR 975.0 million in the previous year to EUR 1,060.9 million in the current year. The division also considerably increased its earnings in the first quarter of 2015/16. The operating result (EBITDA) improved by 17.6% from EUR 114.1 million (EBITDA margin 11.7%) to EUR 134.2 million (EBITDA margin 12.6%). The previously mentioned higher delivery volumes contributed to these increases, but the primary driver was the ongoing efficiency and cost optimization program. Accordingly, profit from operations (EBIT) also rose—by almost one third from EUR 56.8 million to EUR 74.7 million, with the EBIT margin going up from 5.8% to 7.0% as compared with the previous year.

The number of employees (FTE) in the Steel Division as of June 30, 2015 of 11,036 was practically the same as it had been at the end of the first quarter of the previous business year (11,035 FTE).