Metal Forming Division
In millions of euros |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
|
|
04/01– |
|
04/01– |
|
|
|
|
|
|
|
|
|
Revenue |
|
837.2 |
|
763.6 |
|
–8.8 |
EBITDA |
|
67.0 |
|
51.4 |
|
–23.3 |
EBITDA margin |
|
8.0% |
|
6.7% |
|
|
EBIT |
|
30.9 |
|
16.0 |
|
–48.2 |
EBIT margin |
|
3.7% |
|
2.1% |
|
|
Employees (full-time equivalent), end of period |
|
11,379 |
|
11,051 |
|
–2.9 |
BUSINESS DEVELOPMENT
In the first quarter of 2025/26, the market environment for the Metal Forming Division varied by segment. While Automotive Components faced persistently weak demand, the other business areas remained stable.
Call-off orders from automotive manufacturers remained subdued in the first quarter of the 2025/26 financial year. In Europe – particularly in Germany – the Automotive Components business segment recorded weak demand overall. The demand situation at the international locations in South Africa and China also became increasingly gloomy. In North America, customer call-offs were comparatively satisfactory, though somewhat below expectations. Management’s focus in the current reporting year 2025/26 therefore remains on implementing the comprehensive reorganization project. The implementation of measures proceeded according to plan in the first quarter.
The Tubes & Sections business segment performed very solidly overall at the start of the 2025/26 financial year, albeit with regional differences. While the UK suffered from the weakness of the local construction industry, there was positive momentum on the demand side in continental Europe. In North America, market development was characterized by volatility in the wake of the US administration’s tariff discussions. In addition to an economic slowdown, the market in Brazil, South America, was also impacted by high imports from China. In China, the business segment was able to continue the positive development of the previous financial year.
Demand from European customers in the Precision Strip business segment was positive in the first quarter of 2025/26. After several periods of weak market momentum, the low point appears to have passed. High tariffs in the USA exerted pressure on the division’s sales volumes, whereas development in China remained very satisfactory.
The positive trend in the Warehouse & Rack Solutions business segment continued at the start of the 2025/26 financial year. The project landscape remained strong in both Europe and North America.
DEVELOPMENT OF KEY FIGURES
In the Metal Forming Division, revenue declined by 8.8%, from EUR 837.2 million in Q1 2024/25 to EUR 763.6 million in Q1 2025/26. The Automotive Components business segment was particularly affected, posting a significant drop in volume. The Tubes & Sections segment recorded only a modest year-on-year decline, while Precision Strip and Warehouse & Rack Solutions remained stable.
A similar trend was evident on the earnings side. Challenging market conditions weighed on results in the Automotive Components segment. In contrast, the other three segments remained largely stable. Overall, EBITDA declined by 23.3% year on year, from EUR 67.0 million (margin 8.0%) in Q1 2024/25 to EUR 51.4 million (margin 6.7%) in Q1 2025/26. EBIT fell by 48.2%, from EUR 30.9 million (margin 3.7%) to EUR 16.0 million (margin 2.1%).
As of June 30, 2025, the Metal Forming Division employed 11,051 full-time equivalents (FTEs), a decrease of 2.9% compared with 11,379 on June 30, 2024. This reduction in headcount was due to restructuring measures in the Automotive Components segment.