Financial key performance indicators

The key performance indicators (KPIs) for the business year 2021/22 clearly show that the High Performance Metals Division has returned to its growth trajectory after the COVID-19-related decline in the previous business year. Year over year, the division boosted revenue by almost one third to EUR 3,052.2 million (2020/21: EUR 2,299.8 million). Over and above the increase in delivery volumes of about 15%, higher prices stemming from the significant increase in the cost of both scrap and alloys were key to this result. The tool steel and special materials product segments contributed equally to this positive development. The earnings improvement was even more pronounced: EBITDA soared by 86.3% to EUR 399.4 million with a margin of 13.1% (2020/21: EUR 214.4 million, margin of 9.3%). Aside from the increase in the gross margin, higher volumes also contributed decisively to this result. EBIT improved many times over in the business year 2021/22 to EUR 226.9 million (2020/21: EUR 48.8 million), causing the margin to jump from 2.1% to 7.4%. Non-recurring effects at Buderus Edelstahl in Wetzlar, Germany, in the reporting period must be considered in this connection. A total of EUR 15 million in impairment losses weighed on EBIT here.

The quarter-on-quarter (QoQ) comparison of the third and fourth quarters of the reporting period further underscores the significant improvement in the KPIs of the High Performance Metals Division. Revenue jumped by 21.0% to EUR 890.8 million in the fourth quarter, up from EUR 735.9 million in the third. The seasonal increase in delivery volumes as well as rising prices on account of higher raw materials costs contributed to this outcome. The same factors also drove the positive earnings performance. Consequently, EBITDA rose in the fourth quarter of the business year 2021/22 by 65.4% to EUR 129.5 million with a margin of 14.5% (third quarter: EUR 78.3 million, margin of 10.6%). EBIT almost doubled in the same period, from EUR 39.0 million to EUR 75.9 million. This although Buderus Edelstahl had to recognize impairment losses of EUR 15 million in the reporting period’s fourth quarter. The EBIT margin climbed from 5.3% to 8.5%.

As regards human resources, in the business year 2020/21 the sharp downturn in the wake of the COVID-19 pandemic required workforce reductions at a number of facilities. As of the close of the business year 2021/22, the number of employees (FTE) of the High Performance Metals Division rose once again by 5.6% to 13,291 (2020/21: 12,586). This increase results from the personnel adjustments that were made against the backdrop of the brightening economic environment.