Annual Report - voestalpine

accounting effects of ppa, the consolidated
financial statements of voestalpine AG only
report an EBIT of EUR 5.8 million for the
Special Steel Division.
With the exception of the Railway Systems
Division, where operating profit dropped
slightly (similar to EBITDA) from EUR 337.5
million to EUR 315.3 million, all of the other
divisions of the voestalpine Group increased
their operating result significantly
over the previous year to reach new record
values. The 46.1% increase in the Automotive
Division, raising EBIT from EUR 41.2
million to EUR 60.2 million, is particularly
noteworthy. In addition to earnings contributions
from new acquisitions, this increase
also results from systematic portfolio streamlining
in the division. Due to outstanding
business development, the Steel Division
also achieved a significant 25.8% increase
in its operating profit compared to the previous
year, and the Profilform Division improved
its EBIT by 9.0%.
The increase from 14.8% to 17.4% in the
EBIT margin of the Steel Division made this
the most profitable area in the voestalpine
Group in the year under review. Although
the EBIT margins of 14.3% for the Railway
Systems Division (previous value 16.4%) and
13.9% for the Profilform Division (2006/07:
15.0%) were somewhat lower than the fig-
Dividend per share
ures of the previous year, they nevertheless
remained at a very high level. The Special
Steel Division had an EBIT margin of 12.9%
before ppa or 0.2% after ppa.
With an EBIT margin of 6.4%, the Automotive
Division passed the 6% mark for the first
time since its formation in 2001, thereby also
attaining an excellent figure in a comparative
analysis of the automotive supply industry.
In financial year 2007/08 – in addition to the
Special Steel Division, which has been consolidated
since July 1, 2007 – the revenues,
profits and employees of the following companies
were consolidated for the first time
over a period of twelve months: Gutbrod
Stanz- und Umformtechnik GmbH, Gutbrod
Schmölln GmbH, voest alpine Hügel GmbH
& Co. KG and the Dancke group (all in Germany,
Auto motive Division). The two companies
acquired by the Profilform Division,
Sharon Custom Metal Forming Inc. (U.S.A.)
and Meincol Distribuidora de Aços S.A.
(Brazil), were also included in consolidation
for the first time on January 1, 2008.
Outstanding business
development in all divisions
Aside from a few single segments, the satisfying
growth in revenues and profits is the
result of a generally excellent business de-
In euros * As proposed to the Annual General Shareholders‘ Meeting.
0.40 0.53 0.78 1.45 2.1*
2003/04 2004/05 2005/06 2006/07 2007/08
Management Report
Annual Report 2007/08 33