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1) Excluding financial
assets
2) Of which € 110 m
unscheduled writedowns
3) Of which € 88 m
unscheduled writedowns
4) Of which € 9 m
unscheduled writedowns
5) Of which € 5 m
unscheduled writedowns
6) Of which € 4 m
unscheduled writedowns
1) Including intangible
fixed assets
3. Investments
As in previous years, investments at the Salzgitter Group focused on the Steel Division in 2007. The
following section covers the most important projects of the Steel Division, as well as those of the
other divisions.
Additions to non-current assets totaled € 449 million (2006: € 334 million). There was also an increase
of € 363 million arising from additions to the group of consolidated companies in both the Tubes and
Technology Divisions. At € 385 million, the volume of investment in property, plant and equipment
was significantly above the level of depreciation of € 225 million.
The additions to financial assets, which came to € 39 million, mainly reflected the market valuation of
a listed shareholding and the purchase of shares in the American spiral tubes company in the largediameter
tubes area.
We have also capitalized goodwill of € 15 million and adjustments to equity recognized of € 10 million.
Investments/Depreciation 1)
Investments Depreciation
Of which Of which
in € mil. Total Steel Div. Total Steel Div.
2003 191 112 248 135
2004 228 155 3132) 2293) 2005 262 190 2064) 1494) 2006 236 161 201 1455) 2007 385 246 2256) 147
Total 1,302 864 1,193 805
Of the investments in property, plant and equipment and intangible assets during this financial year,
€ 246 million was attributable to the Steel Division, € 71 million to the Tubes Division and € 13 million
to the Trading Division. The Services and Technology divisions invested € 38 million and € 15 million
respectively.
Investments in Fixed Assets 1) by Division
in € mil. FY 2007 FY 2006
Steel 246.2 161.5
Trading 13.2 13.6
Tubes 70.8 36.2
Services 38.0 24.6
Technology 15.1 –
Others/Consolidation 1.5 0.4
Group 384.8 236.3