At the same time, even without taking the new Division into account, the first half of the current business year was the most successful six-months period in the history of the Group. Thus, voestalpine AG is heading for a new record result for the fourth year in a row in the 2007/08 financial year.
Earnings of the Division Special Steel (Böhler-Uddeholm Group) and consequently of voestalpine Group are influenced by purchase price allocation (PPA) due to IFRS 3, which is a pure accounting measure without any cash flow implications. The development of the first half of voestalpine without this accounting measure (PPA) is shown in a pro forma statement excl. PPA in the table below.