In millions of euros |
|
|
|
|
|
|
|
|
|
BY |
|
|
||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
1 |
|
2 |
|
3 |
|
4 |
|
2020/21 |
|
2019/20 |
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
456.0 |
|
636.5 |
|
666.2 |
|
795.2 |
|
2,553.9 |
|
2,838.3 |
|
–10.0 |
EBITDA |
|
14.6 |
|
65.5 |
|
69.7 |
|
124.0 |
|
273.8 |
|
203.3 |
|
34.7 |
EBITDA margin |
|
3.2% |
|
10.3% |
|
10.5% |
|
15.6% |
|
10.7% |
|
7.2% |
|
|
EBIT |
|
–20.7 |
|
30.6 |
|
34.4 |
|
79.7 |
|
124.0 |
|
8.8 |
|
|
EBIT margin |
|
–4.5% |
|
4.8% |
|
5.2% |
|
10.0% |
|
4.9% |
|
0.3% |
|
|
Employees (full-time equivalent) |
|
10,854 |
|
11,443 |
|
11,458 |
|
11,525 |
|
11,525 |
|
11,633 |
|
–0.9 |
The revenue of the Metal Forming Division fell by 10.0% year over year, from EUR 2,838.3 million in the business year 2019/20 to EUR 2,553.9 million in the business year 2020/21. This was due mainly to the meltdown in demand during the reporting period’s first quarter owing to the spread of COVID-19. As the economic sentiment improved over the subsequent quarters, so did revenue. By the fourth business quarter, it had once again surpassed the previous business year’s level.
Despite the extremely difficult conditions at the start of the business year 2020/21, the Metal Forming Division succeeded nonetheless in boosting its performance year over year. In the business year 2019/20, by contrast, EUR 24 million in non-recurring effects arising largely from the Automotive Components business segment impacted EBITDA; additionally, EUR 52 million in impairment losses adversely affected EBIT. on the whole, the division’s EBITDA for the reporting period improved year over year by 34.7% to EUR 273.8 million (margin of 10.7%), up from EUR 203.3 million (margin of 7.2%) in the previous business year. While the division’s two strongest business segments by revenue (Automotive Components and Tubes & Sections) succeeded in boosting their operating performance despite the challenging environment in the reporting period’s first quarter, its other two business segments (Precision Strip and Warehouse & Rack Solutions) followed a stable earnings trajectory. EBIT for the business year 2020/21 skyrocketed to EUR 124.0 million with a margin of 4.9%, up from EUR 8.8 million (margin of 0.3%) the previous business year.
The quarter-on-quarter (QoQ) comparison of the third and fourth quarters underscores the Metal Forming Division’s continual upward trajectory during the reporting period. Revenue jumped by 19.4% to EUR 795.2 million in the fourth quarter, up from EUR 666.2 million in the third. Here, too, Automotive Components and Tubes & Sections were the two business segments that posted the strongest growth. Aside from the increase in volumes, revenue also rose because increases in pre-materials costs were passed on to customers. Earnings present a picture similar to that of revenue: Automotive Components and Tubes & Sections also posted the strongest growth in EBITDA. At the level of the division, EBITDA soared by 77.9% to EUR 124.0 million in the fourth quarter, up from EUR 69.7 million in the third. The EBITDA margin expanded accordingly from 10.5% to 15.6%. At EUR 79.7 million (margin of 10.0%), EBIT for the fourth quarter more than doubled from EUR 34.4 million (margin of 5.2%) in the third.
At 11,525, the number of employees (FTE) in the Metal Engineering Division as of March 31, 2021, was 0.9% lower than the previous business year’s level of 11,633. This reduction is primarily due to the redimensioning of individual production plants in the Automotive Components business segment.
