In a year-to-year comparison, the Metal Forming and the Metal Engineering Divisions, which are closer to the end product stage of the supply chain, maintained a largely stable level of revenue and were able to post higher operating results, while the two divisions that are more materials-oriented, the Steel and Special Steel Divisions, recorded losses in both revenue and operating results. Overall, the voestalpine Group’s revenue in the first nine months of the business year 2013/14 decreased compared to the same period of the previous year by 3.1% from EUR 8.7 billion to EUR 8.4 billion. The operating result (EBITDA) amounted to EUR 1.01 billion (previous year: EUR 1.04 billion), with the EBITDA margin remaining stable at 12% (previous year: 12.1%).
The comparison of profit from operations (EBIT) was similar at EUR 573 million (previous year: EUR 607 million) and a margin that remained almost constant (6.8% compared to 7% in the previous year). At EUR 457 million, profit before tax fell slightly by 3.6% (previous year: EUR 474 million) as did the profit for the period at EUR 352 million (4.8% below the previous year's figure of EUR 370 million). Equity rose by 1.5% to more than EUR 5.1 billion (2012: EUR 5.0 billion), and net financial debt rose minimally from EUR 2.5 to 2.6 billion. At 50.2%, the gearing ratio (net financial debt in percent of equity) remained at almost the same level (49.8% as of December 31, 2013).