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Quarterly development of the Steel Division |
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In millions of euros |
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1st quarter 2012/13 |
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2nd quarter 2012/13 |
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3rd quarter 2012/13 |
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4th quarter 2012/13 |
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BY |
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Revenue |
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999.8 |
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979.8 |
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926.4 |
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1,015.7 |
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3,921.7 |
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108.7 |
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129.6 |
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100.8 |
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110.7 |
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449.8 | |
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10.9% |
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13.2% |
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10.9% |
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10.9% |
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11.5% | |
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52.2 |
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72.7 |
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42.5 |
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51.0 |
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218.4 | |
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5.2% |
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7.4% |
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4.6% |
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5.0% |
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5.6% | |
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Employees (full-time equivalent) |
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10,459 |
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10,591 |
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10,414 |
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10,676 |
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10,676 |
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In the business year 2012/13, the Steel Division faced declining prices overall; as a result, revenue fell by 5.1% from EUR 4,130.3 million in the previous year to EUR 3,921.7 million in the year under review. Despite the difficult environment, the division succeeded in keeping the operating result (EBITDA) stable at EUR 449.8 million (previous year: EUR 456.9 million). Considering the precarious market environment, this was quite a satisfactory trend that was the result of very good capacity utilization at the facilities of the main voestalpine site of Linz and lower raw materials prices for iron ore—and especially for coal and coke. The EBITDA margin even rose slightly from 11.1% to 11.5%, and the EBIT margin saw a marginal gain from 5.5% to 5.6%. Analyzing the individual quarters, it becomes evident that the division had a relatively stable earnings performance over the entire business year, with an operating margin that was always within a two-digit range. Considering the difficult conditions, profit from operations (EBIT) was also quite favorable, with a figure of EUR 218.4 million that almost matched the figure in the business year 2011/12 (EUR 226.5 million).
Compared to the immediately preceding quarter, revenue of EUR 926.4 million in the third quarter of 2012/13 rose to EUR 1,015.7 million in the fourth quarter of 2012/13, a gain of 9.6%, primarily a result of a significant increase in delivered volumes. Despite an environment where average revenue was weak and raw material costs partly unchanged, EBITDA improved by 9.8%, going from EUR 100.8 million to EUR 110.7 million, and EBIT went up by 20.0%, going from EUR 42.5 million to EUR 51.0 million; this was due to optimized capacity utilization. Compared to the immediately preceding quarter, the EBIT margin rose from 4.6% to 5.0%, while the EBITDA margin remained stable at 10.9%.
As of March 31, 2013, the Steel Division had 10,676 employees (FTE/full-time equivalent), slightly below the previous year’s figure (10,702 employees).
