Financial key performance indicators

Revenue in the Steel Division rose in the first half of 2015/16 compared to the same period of the previous year by 4.6% from EUR 1,903.5 million to EUR 1,990.8 million. The primary reason for this gain was the completion of a major order by the heavy plate business segment in the energy sector. There were also negative impacts on revenue, however, as sales in the second quarter of 2015/16 declined because a blast furnace was being relined and because of falling prices. The Steel Division’s operating results, however, experienced a significant boost in earnings in the first half of 2015/16. This increase was primarily the result of visible effects of the ongoing efficiency and cost optimization program. Overall, the operating result (EBITDA) went up in the first six months of 2015/16 compared to the first half of 2014/15 by 20.0%, going from EUR 211.0 million to EUR 253.2 million. At the same time, the EBITDA margin went up from 11.1% to 12.7%. Profit from operations (EBIT) showed an even more substantial increase, rising by 39.5% from EUR 95.1 million to EUR 132.7 million. Thus, at 6.7%, the EBIT margin in the first half of 2015/16 is considerably higher than in the previous year (5.0%).

Compared to the immediately preceding quarter, the key performance indicators in the second quarter of 2015/16 were slightly below those of the previous quarter. The reason for this was a decline in volume resulting from seasonal fluctuations and the relining of a blast furnace in the second quarter. In comparison with the immediately preceding quarter, revenue slipped somewhat by 12.3%, going from EUR 1,060.9 million to EUR 929.9 million. Operating results (EBITDA) went down by 11.3% going from EUR 134.2 million in the first quarter of 2015/16 to EUR 119.0 million in the second quarter. Due to the lower revenue basis, the EBITDA margin improved in the same time period, rising from 12.6% to 12.8%. EBIT fell by 22.4% from EUR 74.7 million (margin: 7.0%) to EUR 58.0 million (margin: 6.2%).

At 11,054 as of the end of the first half of 2015/16, the number of employees (FTE) in the Steel Division was 1.4% below the figure in the same period of the past business year and 0.4% higher than the figure as of the end of the past business year (11,103).