Financial key performance indicators

Against the backdrop of prices that were trending downward due to falling pre-material costs and a streamlining of the portfolio in the past business year (divestment of the Flamco Group, the plastics companies, and Rotec AB), the revenue of the Metal Forming Division decreased by 6.3% going from EUR 1,180.8 million in the first half of 2014/15 to EUR 1,106.4 million in the first half of 2015/16. As far as earnings are concerned, in the second quarter of 2014/15, streamlining resulted in positive non-recurring effects of EUR 66.5 million on EBITDA and EUR 45.2 million on EBIT. Due to these non-recurring effects in the previous year, both the operating result (EBITDA) and profit from operations (EBIT) in the current business year are significantly lower than last year’s figures. While EBITDA dropped by 30.4% from EUR 198.8 million to EUR 138.3 million, EBIT fell by 29.7% from EUR 130.1 million to EUR 91.5 million. Disregarding any non-recurring effects, however, a positive trend is visible that is a result of cost optimization measures on one hand, and on the other, of increasing internationalization activities in the Automotive Body Parts business segment. Adjusted EBITDA went from EUR 132.3 million (margin: 11.2%) in the previous year to EUR 138.3 million (margin: 12.5%) in the current business year, an increase of 4.5%. Adjusted EBIT rose by 7.8% from EUR 84.9 million (margin: 7.2%) to EUR 91.5 million (margin: 8.3%).

A direct comparison of the first and second quarters shows that revenue declined slightly, while earnings remained largely stable despite the seasonal effects of the summer quarter. Overall, revenue fell by 4.4% from EUR 565.5 million in the first quarter of 2015/16 to EUR 540.9 million in the following quarter. At EUR 69.0 million, the operating result (EBITDA) in the current quarter remained almost unchanged compared to the previous quarter (EUR 69.3 million). Due to the lower revenue basis, the EBITDA margin improved in the same time period, rising from 12.3% to 12.8%. In the second quarter of 2015/16, profit from operations (EBIT) remained almost constant at EUR 45.4 million (first quarter: EUR 46.1 million). The EBIT margin also rose slightly from 8.1% to 8.4%.

As of September 30, 2015, the Metal Forming Division had 10,314 employees (FTE), a decrease of 5.6% compared to the reporting date in the previous business year (10,921) due to divestments. There is no significant change compared to the figure as of the end of the business year 2014/15 (10,328).