Annual Report 2005

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1.   Salzgitter AG: Profile, People, Philosophy
1.1   Preface by the Executive Board
1.2   Company Profile and Group Structure
1.3   Executive Board
1.4   Corporate Strategy
1.5   Environmental Protection
1.6   The Salzgitter Share
1.7   Supervisory Board
1.8   Report of the Supervisory Board
1.9   Corporate Governance Report
1.10 Remuneration of the Executive Board and the Supervisory Board
2.   Group Management Report and Management Report on Salzgitter AG
2.1   Economic Situation
General Business Conditions
Purchasing
Employees
Investments
Earnings
Divisions
Profitability Improvement Program
Financial Position
Asset Position
General Statement on the Economic Situation
Performance Report
2.2   Annual Financial Statements of Salzgitter AG
2.3   Research and Development
2.4   Significant Events after the Reporting Date
2.5   Risk Report
Opportunities and Risk Management System
Individual Risks
Overall Statement on the Risk Position
2.6   Forecast
General Market Conditions
Strategic Direction of the Group
Expected Earnings
Expected Financial Position
Opportunities
Anticipated Developments and Trends
3.   Consolidated Annual Financial Statements/Notes
3.1   Consolidated Income Statement
3.2   Consolidated Balance Sheet
3.3   Statement of Income and Accumulated Earnings
3.4   Cash Flow Statement
3.5   Notes
Statement of Changes in Equity
Segment Reporting
Consolidated Fixed Assets
Substantial Shareholdings of Salzgitter AG
Accounting Principles
Consolidation Principles and Methods
Consolidated Group
Currency Translation
Accounting and Valuation Principles
Notes to the Income Statement
Notes to the Consolidated Balance Sheet
Contingencies
Other Financial Obligations
Financial Instruments
Notes to the Cash Flow Statement
Notes on Segment Reporting
Related Party Disclosures
Fees for the Auditor of the Consolidated Financial Statements
Significant Events occurring after the Reporting Date
Waiver of Disclosure in Accordance with Section 264, Para. 3 or Section 264b, German Commercial Code (HGB)
Supervisory Board and Executive Board
3.6   Independent Auditor's Report
4.   Further Information
Key Figures for the Financial Year 2005
Salzgitter Group in Figures
Highlights of the Financial Year 2005
4.1   List of Company Abbreviations
4.2   Glossary
4.3   Financial Calendar of Salzgitter AG for 2006
4.4   Imprint and Contact

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