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Key figures of the Metal Engineering Division |
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In millions of euros |
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2012/131 |
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2013/14 |
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Change in % |
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Revenue |
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2,913.6 |
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2,830.7 |
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–2.8 |
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432.8 |
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435.3 |
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0.6 |
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14.9% |
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15.4% |
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317.9 |
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317.2 |
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–0.2 |
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10.9% |
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11.2% |
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Employees (full-time equivalent) |
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11,374 |
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11,845 |
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4.1 |
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1 Business year 2012/13 retroactively adjusted in accordance with IAS 19 (revised). |
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In 2013/14, the Metal Engineering Division’s development continued to be sound with regard to profitability, both in the course of the year and in comparison to the previous year, and it was again the voestalpine Group’s most profitable division. However, the division’s revenue in the past business year fell slightly, due to declining prices resulting from decreasing input costs and reduced deliveries of standard rails because of the closure of the Duisburg site as of the end of the 2013 calendar year.
Specifically, revenue in the business year 2013/14 was at EUR 2,830.7 million, 2.8% below the previous year’s figure (EUR 2,913.6 million). In terms of earnings, however, the year under review matched the outstanding level of the previous year. At EUR 435.3 million, the operating result (EBITDA) was even slightly above the previous year’s figure (EUR 432.8 million). The EBITDA margin rose from 14.9% to 15.4%. Profit from operations (EBIT) shows a similar picture, remaining practically unchanged at EUR 317.2 million in the business year 2013/14 (previous year: EUR 317.9 million). At the same time, the EBIT margin went up from 10.9% to 11.2%.
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Quarterly development of the Metal Engineering Division |
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In millions of euros |
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1st quarter 2013/14 |
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2nd quarter 2013/14 |
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3rd quarter 2013/14 |
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4th quarter 2013/14 |
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BY 2013/14 |
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Revenue |
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766.9 |
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729.6 |
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678.4 |
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655.8 |
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2,830.7 |
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112.3 |
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113.1 |
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107.9 |
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102.0 |
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435.3 |
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14.6% |
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15.5% |
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15.9% |
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15.6% |
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15.4% |
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83.2 |
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83.8 |
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78.5 |
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71.7 |
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317.2 |
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10.8% |
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11.5% |
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11.6% |
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10.9% |
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11.2% |
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Employees (full-time equivalent) |
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11,558 |
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11,834 |
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11,760 |
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11,845 |
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11,845 |
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A comparison of the fourth quarter of 2013/14 with the immediately preceding quarter shows a slight downward trend. The main reason for lower revenue was the significantly reduced delivery volume of standard rails toward the end of the business year due to the Duisburg closure, with revenue declining by 3.3% from EUR 678.4 million in the third quarter to EUR 655.8 million in the fourth quarter of 2013/14. The operating result (EBITDA) fell markedly by 5.5% from EUR 107.9 million to EUR 102.0 million, with the EBITDA margin dipping from 15.9% to 15.6%. From the third to the fourth quarter of 2013/14, profit from operations (EBIT) dropped by 8.7% from EUR 78.5 million to EUR 71.7 million and the EBIT margin went down from 11.6% to 10.9%.
As of March 31, 2014, the Metal Engineering Division had 11,845 employees (FTE); the number rose by 4.1%, primarily due to acquisitions, compared to the same reporting date in the previous year (11,374 employees).
