Annual Report 2005/06 - voestalpine

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2 Management Report Highlights Annual Report 2005/06 The most successful business year in the history of the voestalpine Group. Increase in sales revenue by 12.5% – significant growth in all four divisions. EBITDA improved by 23%, reaching more than EUR 1 billion for the first time. Operating result (EBIT) increased by 32.5% to EUR 732 million – an improvement to which all four divisions contributed. Earnings per share reach new peak with EUR 13.13 Recommended dividend increased to EUR 3.10 (including bonus). All-time high for voestalpine share.
eport of the Management Board Management report 2005/06 This Management Report is also to be considered the Group Management Report voestalpine AG, as we make use of the provision in accordance with Section 267(4) of the Austrian Commercial Code (HGB) which permits the consolidation of the two reports. eConomiC environmenT Dynamic growth of the global economy – europe is lagging behind The global economy grew by 4.4% in 2005, accelerating its growth despite the increase in oil prices to new record levels. The primary driver of economic growth was again China whose dynamic uptrend, however, had a positive effect on the entire Asian region. The growth rate was 3.5% in North America last year, however, it has weakened considerably since. In Europe, the most important market of the voestalpine Group, economic development remained moderate in 2005. The economic growth rate in the euro zone was only 1.3%, while that of the EU (25) was only marginally higher with 1.5%. With a real growth of its gross domestic product by 1.9%, Austria was slightly above the EU average. In the most important single markets for the voestalpine Group, 2005 brought only slight (Germany +0.9%) or even stagnating growth (Italy +0.1%). In contrast, the 10 new member states of the European Union showed economic growth that was much more dynamic as has been the case in the past. With an increase of 4.6%, the growth rate there was even higher than the global average. Development of the most important customer industries In the most important customer industries of the voestalpine Group, the development of the automotive industry followed a similar course as the overall economy: While production increased in Asia and Eastern Europa, it continued to decline in Western Management Report Annual Report 2005/06 2
Page 1 and 2: Annual Report 2005/06 www.voestalpi
Page 3 and 4: Who we are We are a leading Europea
Page 5 and 6: tHe GrOUP at a GLaNce voestalpine G
Page 7 and 8: Divisional reporTs 48 Division Stee
Page 9 and 10: voestalpine automotive gmbh voestal
Page 11 and 12: mag. Dr. Josef peischer Member of t
Page 13 and 14: Dr. Wolfgang eder (Born 1952, at vo
Page 15 and 16: In a market environment characteriz
Page 17 and 18: 2002 2003 200 200 2000/01 Revenue (
Page 19 and 20: +253.0% 3. 2 . 0 Rubrik 13.13 1 200
Page 21 and 22: priCe perFormanCe oF The voestalpin
Page 23 and 24: Share capital: EUR 287,784,423.30 d
Page 25 and 26: With regard to Rule 49 of the Code,
Page 27: +164.7% 2, .1 3,1 .1 Rubrik , 01. 1
Page 31 and 32: BUsiness perFormanCe oF The voestal
Page 33 and 34: stoppage due to the start-up of ope
Page 35 and 36: motive), as well as in the special
Page 37 and 38: In May 2005, the Division Railway S
Page 39 and 40: In the first quarter of the busines
Page 41 and 42: In January 2006, a newly built cent
Page 43 and 44: Additionally, a new generation of t
Page 45 and 46: expansion of autonomy in the supply
Page 47 and 48: until the end of 2006. A balanced s
Page 49: Rubrik SucceSSful worldwide Annual
Page 52 and 53: Berichte der Divisionen 0 Annual Re
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Page 56 and 57: Rubrik Geschäftsbericht 2005/06
Page 58 and 59: Berichte der Divisionen Annual Repo
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Page 74 and 75: STrATeGy workS. Profitable growth d
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Consolidated Financial Statements V
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1 Service voestalpine Grobblech Gmb
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Service voestalpine Rotec GmbH Grub
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1 Service Hot rolled. Product that
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voestalpine AG voestalpine-Strasse
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Annual Report 2005/06 - voestalpine

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