Investor RelationsCapital market and the performance of the Salzgitter stock
In the first half-year 2009, the global stock markets were characterized by great uncertainty as to future economic developments, which was primarily reflected in pronounced volatility. Whereas pessimistic trends prevailed up until March, subsequent months saw an uptrend which not only anticipated the first reports of recovery from the goods sector but also clearly exaggerated the hesitant return of a number of sectors to normal levels in the second quarter. June was characterized by profit taking and reactions to the slew of negative economic news. Seen overall, the change on the DAX as against quotations at year-end 2008 was insignificant, as opposed to the MDAX which rose 3 %. The Salzgitter share was particularly strongly impacted by the various stock market trends owing to the underlying cyclical sensitivity attributed to it. Starting from the 2008 year-end closing price (€ 55.00), our share initially tracked the DAX. The first market recovery in February had a stronger impact on the Salzgitter share than on the overall market. Modest news on the economy and a first outlook for the financial year 2009, which some market participants had evidently assumed to be more positive, caused our share to fall again to mirror developments on the DAX. Over much of the second quarter, however, persistent waves of buying resulted in renewed outperformance, and our share peaked at € 71.62 on June 2. Despite subsequent profit taking in June, the Salzgitter share, which closed the reporting period on June 30 at € 62.42, achieved an overall performance of more than 13 % and, taking account of the dividend deduction following the Annual Meeting of Shareholders on May 27, of around 16 %. The average daily turnover of our share on German stock exchanges, which came to approximately 790,000 units in the first half-year of 2009, was nearly 20 % higher than the figure posted in the first six months of 2008. Measured by this criterion, Salzgitter AG took 25th place in the index ranking of Deutsche Börse AG on June 30, 2009. Free float market capitalization stood at € 2.4 billion as per the reporting date, which corresponds to rank 29 in the DAX, as before. As part of its capital communications work in the first six months of 2009, Salzgitter AG presented itself at a number of investor conferences and road shows in New York, London and Frankfurt. Moreover, analysts and investors visited our headquarters in Salzgitter. The results of the first quarter of 2009 were discussed at a very well received telephone conference in mid-May. In June the investor relations work of Salzgitter AG took the fourth place in the DAX 30 as part of the Capital Investor Relations Prize 2009 of Capital magazine and the DVFA. Moreover, sell-side analysts voted our capital market communication into third place for Germany in this year's ranking of the Institutional Investor Magazine as well as top of the league in the Metals and Mining sector. In our recently conducted analyst survey the Salzgitter share was assessed by 28 banks, which gave it the following ratings (as per June 30, 2009): 11 buy/outperform, 7 hold/market perform, 10 sell/underperform. Treasury SharesSalzgitter AG’s portfolio of treasury shares came to 6,009,665 as per June 30, 2009. As against December 31, 2008 (6,009,684 units), there was a decrease of 19 units. These shares were received by members of the workforce as a bonus for improvement suggestions. Information for investors
1) All data based on prices from XETRA trading 
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Sources: Xetra closing prices DBAG, Datastream STEELEU
