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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of <strong>Salzgitter</strong> <strong>AG</strong> 236 237 “The bridge is complete, but the project is never over.” Aris Stathopoulos, Structural Maintenance Manager The 36-year-old civil engineer is a member of the maintenance team and knows all about the specific strains that the bridge is exposed to. But Stathopoulos also knows how well equipped the huge structure is to deal with them: huge pylons and a steel bridge deck with shock absorbers enabling it to move to and fro by up to two meters help to cope with any type of impact and make the bridge extremely robust. It can withstand wind speeds of 250 km/h, earthquakes measuring 7 on the Richter scale, or a collision with an oil tanker, for example. Consolidated Annual Financial Statements
Notes to the Income Statement (1) Sales in T€ Breakdown according to product categories FY 2007 FY 2006 Flat rolled products 4,184,559 3,825,144 Sections 1,444,258 1,049,496 Pipes 2,699,361 2,400,804 Other 1,864,081 1,171,769 Breakdown according to regions 10,192,259 8,447,213 Domestic 4,902,587 3,983,919 Other EU 2,203,121 1,929,467 Other Europe 581,973 228,529 America 938,447 977,270 Other 1,566,131 1,328,028 10,192,259 8,447,213 The breakdown of sales includes an additional presentation by product category which does not correspond to segment reporting. Sales include revenues from contract production recognized in accordance with the percentage-ofcompletion method amounting to € 351.5 million. (2) Increase or Decrease in Finished Goods and Work in Progress and Other Own Work Capitalized in T€ Changes in the inventory of finished goods FY 2007 FY 2006 and work in process 207,173 7,646 Other own work capitalized 6,746 3,998 213,919 11,644 In comparison with the previous year, finished goods and work in process increased significantly. This increase is attributable to a rise in both volumes and assortment. In the Steel Division, roughed slabs were deliberately stockpiled at the end of the financial year in order to bridge over a planned blast furnace relining in the financial year 2008. In the Tubes Division, raw material price hikes led to an increase in work in process.
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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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“They just loved the experiments.
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7. Financial Position Financial Man
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8. Net Assets The total assets of o
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1) Including intangible assets 2) I
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Disclosures pursuant to Sections 28
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10. General Statement on the Econom
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2. Individual Risks Environment and
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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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Page 184 and 185: A Group Management Report and Manag
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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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