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A Group Management Report and Management Report on Salzgitter AG III. Significant Events After the Reporting Date 164 165 Acquisition of SIG Beverages The acquisition of SIG Beverages and the related integration of the PET blow mould technology allows Salzgitter AG to strengthen its Technology Division in a key area. The most important companies belonging to SIG Beverages include: SIG Corpoplast GmbH & Co. KG, Hamburg, and SIG Asbofill GmbH, Neuss. The seller is the SIG Group, which is based at Neuhausen am Rheinfall, Switzerland. From as early as our acquisition of Klöckner-Werke AG and our related entry into specialty plant engineering for filling and packaging machinery we declared that we would actively shape the strategic and operational growth of the Technology Division. The acquisition of SIG Beverages is an extremely significant step in this direction. It is now possible for the Klöckner-Werke subsidiary KHS to offer complete facilities on a one-stop shop basis in the high-growth market for plastic bottle technology. SIG Beverages has a workforce of approximately 480 employees, predominantly in Germany. The company generated sales of around € 150 million in 2007. We will provide information about current business progress at the time of our quarterly reports in 2008. Significant Events After the Reporting Date
IV. Risk Report 1. Risk and Opportunities Management System Business activity as defined by the Articles of Incorporation makes risk-taking unavoidable in many instances. Assuming risks is frequently the necessary precondition for exploiting opportunities. All risks must, however, be contained and manageable for the management of the company. Effective and foresighted risk management is therefore an important and value-creating component among the management functions deployed by Salzgitter AG to safeguard the company as a going concern, along with the invested capital and jobs Differentiation between risk and opportunities management In the Salzgitter Group, risk and opportunity management are treated separately as a matter of principle. A separate reporting system maps and tracks risks. By contrast, the identification and communication of opportunities forms an integral part of the management and controlling system that operates between our subsidiaries and associated companies and the holding company. Identification, analysis and implementation of operational opportunities is incumbent on the management of the individual companies. In cooperation with the Group’s Strategic Planning and Coordination, measures are devised to profile our strengths and tap strategic growth potential. They are structured systematically in a strategy atlas specially developed for this purpose and consistently reflect our product and market environment. Potential for opportunities for the Salzgitter Group is, on the one hand, inherent in a market-oriented price policy and in reinforcing our market position by developing new materials and products relevant for the steel sector. On the other hand, we also use the ongoing implementation of our profitability improvement and selective acquisitions, as exemplified in the current financial year 2007 by Klöckner-Werke AG and Vallourec Précision Etirage S.A.S. As regards tapping selected opportunity potential, we refer to our Forecast. To secure value-oriented corporate management, we weigh up the aspects of risks versus opportunities. Organizational permeation Risk management incorporates all fully consolidated companies in the Steel, Trading and Services Divisions – also including the non-consolidated Salzgitter Hydroforming GmbH & Co. KG and Telefonbau Marienfeld GmbH & Co. KG. In the Tubes Division, both the fully consolidated companies and the joint venture Europipe GmbH, including MÜLHEIM PIPECOATINGS GmbH, are integrated into the risk management system in accordance with Salzgitter AG’s guidelines. The companies of the Klöckner- Werke AG (KWAG) were consolidated for the first time in the third quarter of 2007 and, since that time, they have formed the core of the Salzgitter Group’s Technology Division. Salzgitter AG performs its group management duties in respect of risk management for the listed company KWAG as part of the control functions of KWAG’s Supervisory Board. KWAG’s Supervisory Board has formed an audit committee in which SZAG is represented. One of the duties of the audit committee is to monitor the risk management and material risks. The committee meets regularly.
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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
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Sources: XETRA closing prices, DBAG
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1) All data as per December 31 2) C
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“At first I had no idea what it w
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R&D expenses by Division Steel 47%
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Continuous strip casting Together w
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Steel Division environmental expens
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Core workforce 1998 Steel 10,471 Tr
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Generation campaign A Group operati
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Page 112 and 113: A Group Management Report and Manag
Page 114 and 115: 4. Earnings Steel Trading Tubes Ser
Page 118: A Group Management Report and Manag
Page 121 and 122: 5. The Divisions As the management
Page 123 and 124: Steel Division Shipments 0 1,000 2,
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
Page 174 and 175: GDP Germany: Forecast Range 2008/20
Page 178 and 179: Power Plant Capacity Trend GW 8,000
Page 186 and 187: 4. Anticipated Financial Position W
Page 188 and 189: 6. Overall Statement on the Perform
Page 190: Why is it worth listening to what a
Page 194 and 195: “We listen to the bridge - 24 hou
Page 196 and 197: B Consolidated Annual Financial Sta
Page 198 and 199: II. Consolidated Balance Sheet Asse
Page 200 and 201: IV. Cash Flow Statement (43) Cash F
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B Consolidated Annual Financial Sta
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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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