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II. Consolidated Balance Sheet Assets in T€ Non-current assets Intangible assets Note 31/12/2007 31/12/2006 Goodwill (15) 15,344 – Other intangible assets (16) 119,537 18,803 134,881 18,803 Property, plant and equipment (17) 1,797,818 1,423,389 Investment property (18) 26,528 – Financial assets (19) 108,790 61,904 Associated companies (20) 84,102 74,208 Deferred tax assets (21) 12,988 49,101 Other receivables and other assets (22) 2,856 3,348 Current assets 2,167,963 1,630,753 Inventories (23) 2,084,429 1,653,099 Trade receivables (24) 1,521,044 1,108,260 Other receivables and other assets (25) 359,356 176,277 Income tax assets (26) 114,192 23,950 Securities (27) 20,383 27,691 Cash and cash equivalents (27) 2,138,823 2,344,989 6,238,227 5,334,266 Non-current assets held for sale (28) – 12,559 6,238,227 5,346,825 8,406,190 6,977,578 Equity and liabilities in T€ Equity Note 31/12/2007 31/12/2006 Subscribed capital (29) 161,615 161,615 Capital reserve (30) 295,343 295,343 Retained earnings (31) 3,777,644 3,023,931 Unappropriated retained earnings (32) 189,700 126,500 4,424,302 3,607,389 Treasury shares –227,834 –160,354 4,196,468 3,447,035 Minority interests (33) 49,399 9,666 Non-current liabilities 4,245,867 3,456,701 Provisions for pensions and similar obligations (34) 1,791,745 1,714,837 Deferred tax liabilities (21) 94,027 43,870 Income tax liabilities (26) 214,236 170,758 Other provisions (35) 192,557 167,405 Financial liabilities (36) 87,437 89,649 Current liabilities 2,380,002 2,186,519 Other provisions (35) 325,597 237,737 Financial liabilities (37) 98,533 102,635 Trade payables (38) 760,666 602,007 Income tax liabilities (26) 19,705 49,150 Other liabilities (39) 575,820 342,829 1,780,321 1,334,358 8,406,190 6,977,578 200 201 Consolidated Annual Financial Statements
III. Statement of Recognized Income and Expense in T€ Changes in the financial year recorded directly in equity FY 2007 FY 2006 Changes in currency translation Change in value reserve from hedging transactions –9,934 3,580 Changes in current value recorded directly in equity 6,879 7,862 Recognition of settled hedging transactions with effect on income Changes in value of financial assets in the “available-for-sale assets” category –1,486 –6,376 Changes in current value recorded directly in equity 27,063 1,196 Recognition from the sale of securities with effect on income –1,139 –3,566 Actuarial gains and losses 39,374 –9,135 Deferred tax on current changes without effect on income –47,918 3,664 Other changes without effect on income 1,720 776 14,559 –1,999 Consolidated net income for the financial year 905,145 1,509,558 Total profit pursuant to IAS 1.97 in conjunction with IAS 19.93B 919,704 1,507,559 Total profit due to <strong>Salzgitter</strong> <strong>AG</strong> shareholders 914,411 1,505,665 Total profit due to minority interests 5,293 1,894 919,704 1,507,559
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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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4. Earnings Steel Trading Tubes Ser
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5. The Divisions As the management
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Steel Division Shipments 0 1,000 2,
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1) Excluding intercompany deliverie
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SMHD Group made the major contribut
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Tubes Division The companies belong
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capacity utilization throughout the
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Services Division The companies bel
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1) Sales in own segment and in othe
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Sales in the Technology Division in
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How does steel serve science? What
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“Our motto is ‘I discover.’
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“For a long-span roof constructio
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6. Profitability Improvement Progra
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Page 149 and 150: 7. Financial Position Financial Man
Page 151 and 152: 8. Net Assets The total assets of o
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Page 155 and 156: Disclosures pursuant to Sections 28
Page 157 and 158: 10. General Statement on the Econom
Page 160 and 161: A Group Management Report and Manag
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
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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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