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A Group Management Report and Management Report on <strong>Salzgitter</strong> <strong>AG</strong> II. Profitability, Financial Position and Net Assets 124 125 Crude Steel Production in t mil. World EU-27 Germany Of which Steel Division 2003 970.01) 192.51) 44.8 5.17 2004 1,068.91) 202.31) 46.4 5.06 2005 1,141.91) 195.51) 44.5 5.08 2006 1,244.21) 206.91) 47.21) 5.69 2007 1,320.02) 210.02) 48.62) 5.66 The production of rolled steel rose slightly compared with the previous year, from 5,540 ktons to 5,549 ktons. The volume of products processed remained more or less unchanged at 245 ktons as against the 2006 figure (250 ktons). “Rolled steel” in this instance comprises hot-rolled strip, cold-rolled steel and coated products from SZFG, sections, beams and mine arches from PTG, plate from ILG, as well as all steel products from HSP (sheet piling, mine arches, bulb flats). The “processed products” category includes sheet piling, pre-processed sections and track systems made by PTG, processed and oxygen-cut plate made by ILG, elements for roofing and cladding (sandwich elements, cassette and trapezoidal profiles) made by SZBE as well as stamped parts, patchwork blanks and tailored blanks made by SZEP. Steel Division Production in kt FY 2007 FY 2006 Pig iron 4,220 4,277 Crude steel 5,663 5,692 Hot-rolled steel and steel strip 1,484 1,422 Cold-rolled steel 266 246 Coated steel 1,136 1,218 Sections 1,297 1,267 Sheet piling 304 259 Plates, including wide strip 954 926 Elements for roofing and cladding 49 43 Stamped and tailored blanks 59 63 Shipments of rolled steel to external customers and Group companies outside the Steel Division amounted to 5,302 ktons, thus exceeding the year-earlier figure of 5,229 ktons by 73 ktons (+1%). The shipment of processed products remained virtually unchanged at 243 ktons. All in all, shipments rose by 69 ktons (+1%) to 5,545 ktons, up from 5,476 ktons. Increases at PTG (+41 ktons), ILG (+30 ktons), HSP (+24 ktons) and SZBE (+5 ktons) more than compensated for the lower shipment tonnage of SZFG (–26 ktons) and SZEP (–5 ktons). 1) Adjusted to IISI statistics 2) Data as per February 2008 Profitability, Financial Position & Net Assets
Steel Division Shipments 0 1,000 2,000 3,000 4,000 5,000 6,000 in kt FY 2007 FY 2006 Steel Division Sales in € mil. FY 2007 FY 2006 5,545 5,476 The sale of rolled steel and processed products to external customers and other Group divisions climbed € 617 million to € 3,967 million as compared with the previous year (€ 3,350 million). SZFG lifted sales by 12% despite lower shipments to € 1,953 million. Initially, specific selling prices for coldrolled flat products rose steadily over the course of the year to reach record levels in the second and third quarters before the huge inflow of imports began to disturb the market balance. First and foremost owing to significantly higher average selling prices, PTG saw sales surge by 30% to € 887 million. The situation was similar at ILG, HSP and SZBE. ILG’s sales came to € 800 million, which was 23% higher than in 2006. HSP and SZBE lifted revenues to € 210 million (+26%) and € 62 million (+32%) respectively. SZEP’s lower volume of shipments caused sales to decline to € 55 million (–8%) in this financial year. 3,350 3,967 0 500 1,000 1,500 2,000 2,500 3,000 4,000 The Steel Division generated an excellent result in pre-tax profit of € 749.4 million, thereby exceeding the previous year’s result of € 433.8 million by 73%. Besides the excellent market conditions with historically high prices, the consistent exploitation of profitability improvement potential has contributed to this performance. The three largest companies in particular recorded significant increases: SZFG (€ +93.3 million), PTG (€ +157.4 million) and ILG (€ +62.8 million). The profit of HSP also rose (€ +3.1 million). The results of SZEP and SZBE fell by € –0.9 million and € –0.3 million respectively.
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Annual Report 2007 Financial Year f
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1) 2006 included in “Other region
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Highlights of the Financial Year 20
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Contents The Salzgitter Group 5 Key
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Preface by the Executive Board Ladi
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The financial year 2007 was another
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Report of the Supervisory Board The
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Alongside the extensive investment
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Corporate Governance Report Corpora
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In order to prepare its decisions,
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Transparency To ensure that shareho
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What does it feel like to steer 100
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A Group Management Report and Manag
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94.9% 94.9% 51.0% 94.8% A Group Man
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1) Including amounts provisioned fo
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1) The amounts presuppose that the
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“I wish I could also sleep in it.
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3. Management and Control of the Co
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Groupwide Investment Volume 1996/19
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The Group’s excellent performance
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Management and Control Instruments
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in € mil. FY 2007 FY 2006 EBT 1,3
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Can a sports facility lend wings to
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“For a whole year we really did e
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“We could only imagine making the
Page 71 and 72: Sources: XETRA closing prices, DBAG
Page 73 and 74: 1) All data as per December 31 2) C
Page 75 and 76: “At first I had no idea what it w
Page 77 and 78: R&D expenses by Division Steel 47%
Page 79 and 80: Continuous strip casting Together w
Page 82 and 83: A Group Management Report and Manag
Page 86 and 87: Steel Division environmental expens
Page 100: A Group Management Report and Manag
Page 103 and 104: Core workforce 1998 Steel 10,471 Tr
Page 105 and 106: Generation campaign A Group operati
Page 114 and 115: 4. Earnings Steel Trading Tubes Ser
Page 118: A Group Management Report and Manag
Page 121: 5. The Divisions As the management
Page 125 and 126: 1) Excluding intercompany deliverie
Page 127 and 128: SMHD Group made the major contribut
Page 129 and 130: Tubes Division The companies belong
Page 131 and 132: capacity utilization throughout the
Page 133 and 134: Services Division The companies bel
Page 135 and 136: 1) Sales in own segment and in othe
Page 137 and 138: Sales in the Technology Division in
Page 139 and 140: How does steel serve science? What
Page 141 and 142: “Our motto is ‘I discover.’
Page 143 and 144: “For a long-span roof constructio
Page 145 and 146: 6. Profitability Improvement Progra
Page 147 and 148: “They just loved the experiments.
Page 149 and 150: 7. Financial Position Financial Man
Page 151 and 152: 8. Net Assets The total assets of o
Page 153 and 154: 1) Including intangible assets 2) I
Page 155 and 156: Disclosures pursuant to Sections 28
Page 157 and 158: 10. General Statement on the Econom
Page 166 and 167: 2. Individual Risks Environment and
Page 168 and 169: Financial Risks A Group Management
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GDP Germany: Forecast Range 2008/20
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Power Plant Capacity Trend GW 8,000
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4. Anticipated Financial Position W
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6. Overall Statement on the Perform
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Why is it worth listening to what a
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“We listen to the bridge - 24 hou
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B Consolidated Annual Financial Sta
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II. Consolidated Balance Sheet Asse
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IV. Cash Flow Statement (43) Cash F
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The Services Division includes DEUM
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(46) Related Party Disclosures In a
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(49) Waiver of Disclosure and Prepa
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VI. Auditor’s Report This report
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I. List of Company Abbreviations SZ
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II. Glossary Business and Financial
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F Forfaiting Sale of export receiva
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Technical Terms A Annealing furnace
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Pilger rolling Conventional step-fo
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III. Financial Calendar of Salzgitt
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IV. Editorial Details and Contact C
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