Glossary

Takeover or purchase of companies or of interests in companies.

Companies that are directly or indirectly under the same management—in this case of voestalpine AG—in which voestalpine AG holds, directly or indirectly, a majority of the voting rights or exercises the controlling influence.

Company takeover, where the buyer purchases individual assets (rather than shares).

“Austrian Traded Index,” the leading index of the Vienna Stock Exchange, which contains the 20 most important stocks in the prime market segment.

Inclusive term for provisions, trade and other payables, posted on the liabilities side of the statement of financial position.

Ratio of borrowed capital recorded on the statement of financial position to total assets (the higher the ratio, the higher the debt burden).

Total employed interest­bearing capital.

Incorporates all expenditures necessary for the procurement of raw and auxiliary materials required for production.

Those assets that are expected to be realized in cash or consumed in the short term, that is, they are not expected to be available for a company’s business operations long-term, for example, inventory, trade accounts receivable, or securities.

Profit before the deduction of taxes, non­controlling interests, and financial result.

EBIT percentage of revenue.

Profit before the deduction of taxes, non-controlling interests, financial result, and depreciation and amortization expenses.

EBITDA percentage of revenue.

Profit before the deduction of taxes and non-controlling interests.

Assets made available to a corporation by the owners through deposits and/or contributions or from retained profits.

Equity divided by total assets.

The portion of the share capital that is actively traded on the stock exchange.

A full-time employee corresponds to a full-time equivalent of one, part-time employees are taken into account on a pro-rata basis corresponding to their working hours.

Ratio of net financial debt to equity.

Revenue less cost of sales.

Accounting regulations developed to guarantee comparable accounting and disclosure.

A business partnership between two or more companies, which remain independent but which pool capital to pursue a commercial goal, for example, the penetration of a foreign market.

Market capitalization reflects the current market price of an exchange-listed company.

Interest-bearing liabilities less interest-earning assets.

Within the scope of the acquisition of a company, the purchase price is allocated to the assets and liabilities of the acquired enterprise, which are then assigned fair values and recognized in the Group’s consolidated financial statements.

An evaluation of the credit quality of a company recognized on international capital markets.

ROE is the ratio between profit for the period and equity as recorded in the previous period.

ROCE is the ratio of EBIT to average capital employed (until business year 2008/09, EBIT to capital employed), that is, profit generated by the capital invested.

The minimum capital requirement to be contributed by the shareholders for shares when establishing a stock corporation or limited partnership; it is issued in shares and constitutes a part of equity.

The degree of fluctuation in stock prices and currency exchange rates or in prices of consumer goods in comparison to the market.

Average capital costs for both borrowed capital and equity.