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2.3 Management report on on the Group Results of of operations of of the the business areas areas Materials Services achieved EBIT of of €478 million, €478 million, an improvement an improvement on the on good the prior-year good prior-year figure. figure. Sales to the aerospace industry remained pleasing, but international direct-to-customer and project sales were again characterized by very slow demand, extremely fierce competition and numerous order deferrals. Raw materials sales of alloys, metals and coke/coal showed a mixed picture. Whereas the alloy business was largely steady, shipments and sales of metals decreased significantly. Demand and prices for coke and minerals were at a very high level over large parts of the fiscal year. Further large orders and new projects had a favorable impact on our steel mill services in Brazil, and capacity utilization in Germany was also significantly better than a year earlier. Adjusted EBIT improved by 40% The economic recovery and sustainable cost reductions in almost all areas are reflected in the business area’s earnings. Materials Services achieved EBIT of €478 million in 2010/2011, compared with €463 million in the prior year. Whereas the prior-year earnings included disposal gains of €81 million from the sale of the Industrial Services companies, the sale of the Xervon group led to disposal losses of €55 million in the reporting year. Adjusted EBIT improved significantly from €382 million by €151 million or 40% to €533 million; the adjusted EBIT margin increased from 3.0% to 3.6%. Elevator Technology Elevator Technology in figures 2009/2010 2010/2011 Change in % Order intake million € 5,099 5,281 4 Sales million € 5,188 5,253 1 EBIT million € 646 801 24 EBIT margin % 12.4 15.2 — Adjusted EBIT million € 646 641 (1) Adjusted EBIT margin % 12.4 12.2 — Employees (Sept. 30) 44,024 46,243 5 The Elevator Technology business area supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as service for the entire product range. Over 900 locations worldwide form a tight-knit sales and service network that keeps us close to customers. Order intake and sales at high levels Elevator Technology stood up well in 2010/2011 and continued its positive performance. Compared with the prior year we improved order intake by 4% to €5.3 billion and sales by 1% to likewise €5.3 billion. 76
Management report on the Group 2.3 Management report on the Group Results of operations of the business areas China’s first TWIN elevators will transport hotel guests faster in in Dalian. Elevator Technology order intake Elevator Technology EBIT in million €, quarter on quarter rate of change in million €, quarter on quarter rate of change Q1 1,230 Q1 Q2 (1)% 1,215 Q2 Q3 + 14% 1,390 Q3 Q4 (9)% 1,264 Q4 2009/2010 2009/2010 Q1 + 3% 1,306 Q1 Q2 + 4% 1,358 Q2 Q3 (3)% 1,320 Q3 Q4 (2)% 1,297 Q4 2010/2011 2010/2011 76 | 77 The upward trend in elevators was felt in both the new installation and service businesses. Pleasing growth was achieved in the Asian region in particular. The main growth driver in China was the new installation business, which profited from numerous new infrastructure projects. The Indian and Brazilian markets also continued to grow at a strong pace, while volumes in North America improved only slightly under the influence of the general economic situation in the USA. The European operations were steady. Demand for new installations in the Iberian peninsula was weaker. Through market-oriented measures we further increased service volumes and the number of maintenance units under contract in all important regions. Order volumes for escalators and passenger boarding bridges were significantly higher; both businesses recorded increasing demand, particularly from Asia, mainly due to dynamic growth in China. Orders for stair lifts and home elevators were unchanged from the prior year. Slight fall in earnings The business area generated EBIT of €801 million. The figure includes special items of €160 million because a fine imposed by the EU Commission in 2007 for anticompetitive practices was paid back in part. Excluding this special item, adjusted EBIT came to €641 million, and was therefore steady year-on-year. We achieved improved earnings above all in Brazil and Asia. EBIT margin rose from 12.4% to 15.2%; adjusted for the special item it came to 12.2%, compared with 12.4% in the prior year. (1)% (1)% (4)% + 10% (14)% + 3% + 120% 165 163 162 156 171 147 151 332
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Annual Report 2010/2011 At the cent
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Our mission statement We are Thysse
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Our capabilities Material We combin
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Making tomorrow possible Our engine
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Letter to shareholders Dr.-Ing. Hei
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Letter to shareholders To assist ou
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To our shareholders To our sharehol
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To our shareholders 1.1 To our shar
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