Annual Report 2005/06 - voestalpine

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Berichte der Divisionen Annual Report 2005/06 Key FigUres oF The Division railWay sysTems 55% Railways 4% Other 17% Oil 5% Civil 5% Construction 14% Automotive 2005/06 2004/05 Revenue 1,817.7 1,586.4 EBITDA 333.2 197.6 EBITDA margin (in %) 18.3 12.5 EBIT 247.9 122.5 EBIT margin (in %) 13.6 7.7 Employees 6,959 6,738 CUsTomers oF The Division railWay sysTems In millions of euros Business year 2005/06 As percentage of divisional revenue marKeTs oF The Division railWay sysTems 67% European Union 7% Rest of Europe 15% North America 11% Rest of world Business year 2005/06 As percentage of divisional revenue
marKeT environmenT anD BUsiness perFormanCe The companies of the Division Railway Systems operated in a market environment that, seen overall, was favorable during the 2005/06 business year, although the development of the regional markets was quite differentiated from the viewpoint of the individual sectors. The railway activities of the division, which consist of the rail and turnout technology and the rail construction logistics and services business units, were able to expand their leading market position during the past business year, both with regard to special tracks and switches and turnout systems with a number of new international projects and technical innovations; activities outside of Europe continued to be intensified. The economic situation on the railway infrastructure markets was different in all three business units. This underscored the importance of consistently driving the internationalization of the division forward, which not only compensated for the weakness of individual European markets but enabled the division to penetrate new railway markets with dynamic growth both with its own local production sites and joint ventures with regional partners. Seen individually, the business performance of the division’s railway activities can be described as follows: In the rail technology business sector, developments in Western Europe were characterized primarily by an improved market situation in Germany, the Netherlands, and Sweden. Although the Central and Eastern European regions are still more or less stagnating, there were important successes on the Hungarian, Romanian, and Slovak markets. On the overseas railway markets, continuing expansion of capacities for the transport of raw materials resulted in high demand for premium tracks for heavy goods transport, in particular in South Africa and Australia. In the turnout technology business sector, there were above average sales increases in the USA, but also growth in the innovative sector of “Hytronics” ® products. This technology, which has been successful worldwide, is a hydraulic-electronic system that provides hydraulic turnout mechanisms as well as monitoring and diagnosis systems; these systems are integrated directly into the switches and turnout systems, and they provide railway systems operations with a considerable reduction of the life-cycle costs by enabling quick installation of completely pre-assembled switches, improving availability of the installations, and enabling longer maintenance intervals as well as a higher degree of safety. In Central and Eastern Europe and in the Baltic region, EU-financed expansion projects resulted in a positive market trend. In Germany, business was more difficult; the aggressive cost reduction programs have led to efforts by the German Federal Railways to better utilize their own switches production capacities, and this has led to a downward Divisional Reports Annual Report 2005/06
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Annual Report 2005/06 www.voestalpi
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Who we are We are a leading Europea
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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 (
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Page 21 and 22: priCe perFormanCe oF The voestalpin
Page 23 and 24: Share capital: EUR 287,784,423.30 d
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Page 37 and 38: In May 2005, the Division Railway S
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Page 41 and 42: In January 2006, a newly built cent
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voestalpine AG voestalpine-Strasse
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