Improved global sentiment in expectation of an economic upturn, but to date uneven development across the individual economic regions

Conventional energy sector with continued weak demand (with the exception of exploration)

Profitability of the Group as a whole (EBITDA and EBIT margin) largely stable

Metal Engineering and Metal Forming Division with newly improved results

Operating result (EBITDA) with fundamentally constant margin falls slightly (currently 12.0%, 12.1% in the previous year): EUR 1,006.8 million, after EUR 1,043.8 million in 2012/13