Despite the challenging conditions, in particular the continuing high degree of volatility both with regard to the raw materials prices and demand, the very specific positioning of the Steel Division has enabled it to keep both revenue and operating result stable. In comparison to the first quarter of 2012/13, revenues fell only marginally by 1.0% from EUR 999.8 million to EUR 989.8 million. This is due primarily to the fact that, despite declining prices, delivery volumes were significantly increased compared to the first three months of 2012/13. Therefore, despite the difficult market environment, the division enjoyed full capacity utilization. As opposed to the revenue figures, both operating result (EBITDA) and profit from operations (EBIT) rose. While EBITDA increased by 3.2% from EUR 107.9 million to EUR 111.3 million (EBITDA margin: 11.2%; previous year: 10.8%), EBIT even went up by 7.6% from EUR 51.4 million to EUR 55.3 million, corresponding to an EBIT margin of 5.6% (previous year: 5.1%).
As of June 30, 2013, the Steel Division had 10,805 employees (FTE), thus increasing its workforce compared to the previous year (10,459) by 3.3%.