- The first phase of the business year 2011/12—until the summer of 2011—still characterized by a broad-based feeling of optimism with regard to the economy.
- From the fall of 2011, increasing nervousness on the markets and cautious order patterns on the part of customers in some industries.
- Toward the end of 2011, a new escalation of the sovereign debt crisis in Europe; economic situation in the USA developed positively.
- The first signs of a certain cooling down of momentum in the growth regions of China and Brazil increased uncertainty around the turn of the year 2011/12 regarding the development of the global economy.
- Despite the difficult market environment, the divisions, which are strongly oriented toward downstream manufacturing, the divisions Special Steel, Metal Engineering (until March 31, 2012 Railway Systems Division), Profilform, and Automotive had a stable development, retaining the revenue and earnings level of the previous year.
- Very volatile development with regard to earnings in the Steel Division due to fears surrounding the economy and structural overcapacities in Europe.
- Despite a difficult economic environment, voestalpine boosts the Group’s revenue to an all-time high of EUR 12.1 billion.
- All reporting categories adversely affected by the non-recurring effects in the railway sector in the amount of EUR 205 million and therefore, remained significantly below last year’s figures.
- At EUR 1,301.9 million, EBITDA was 18.9% lower than the previous year (EUR 1,605.6 million), while EBIT was 28.5% below the previous year (EUR 984.8 million) at EUR 704.2 million.
- When the non-recurring effects amounting to EUR 205 million are excluded, the development of earnings is virtually stable.
- Reduction of the gearing ratio (net financial debt as a percentage of equity) from 57.8% to 53.5%.
- Dividend proposed to the Annual General Shareholders’ Meeting: EUR 0.80 per share.
- Number of employees (as full-time equivalents) of 45,260 as of March 31, 2011 rose to 46,473 as of March 31, 2012 (+2.7%).
- In the business year 2011/12, the (purely accounting) effects of the purchase price allocation (ppa) from the acquisition of BÖHLER-UDDEHOLM had an adverse effect on the Group’s operating result (EBIT) of EUR 47.4 million so that EBIT before ppa is EUR 751.6 million; this corresponds to an EBIT margin before ppa of 6.2%.
1 In accordance with IFRS, all figures after application of the purchase price allocation (ppa).
