Download - Salzgitter AG

Contents The Salzgitter Group 5
Key Figures for the Financial Year 2007 6
Salzgitter Group in Figures 7
Highlights of the Financial Year 2007 8
Preface by the Executive Board 12
Report of the Supervisory Board 16
Corporate Governance Report 20
A Group Management Report and Management Report on Salzgitter AG
I. Business and the Environment 32
1. Group Structure and Operations 32
2. Management and Control 46
2.1 The Executive Board 46
2.2 The Supervisory Board 48
2.3 Remuneration of Executive Board and Supervisory Board 52
3. Management and Control of the Company, Goals and Strategy 58
4. The Salzgitter Share 74
5. Research and Development 80
6. Environmental Protection 86
7. Performance Report 92
7.1 General Business Conditions 92
7.2 Overall Statement by Management on the Performance of the Group 96
7.3 Comparison between Actual and Targeted Performance 97
II. Profitability, Financial Position and Net Assets 100
1. Purchasing 100
2. Employees 106
3. Investments 112
4. Earnings 117
5. The Divisions 124
6. Profitability Improvement Program 148
7. Financial Position 152
8. Net Assets 154
9. Annual Financial Statements of Salzgitter AG 156
10. General Statement on the Economic Situation 160
III. Significant Events After the Reporting Date 164
IV. Risk Report 166
1. Risk and Opportunities Management System 166
2. Individual Risks 169
3. Overall Statement on the Risk Position of the Group 174
V. Forecast 176
1. General Business Conditions in the next two Financial Years 176
2. Strategic Direction of the Group 184
3. Expected Earnings 186
4. Anticipated Financial Position 189
5. Opportunities 190
6. Overall Statement on the Performance Anticipated for the Group 191