Interim Report 1st Quarter 2010

Salzgitter Group Figures

		Q1 2010	Q1 2009	+/-
Crude steel production ¹⁾	kt	1,644.9	1,004.7	640.2

External sales	€ million	1,924.8	2,194.7	-269.9
Steel Division	€ million	516.1	427.7	88.3
Trading Division	€ million	657.7	926.9	-269.2
Tubes Division	€ million	449.4	552.0	-102.6
Services Division	€ million	88.0	83.4	4.6
Technology Division	€ million	199.8	192.5	7.3
Others	€ million	13.8	12.1	1.6
Export share	%	49.0	54.9	-5.9

EBITDA ²⁾³⁾	€ million	72.8	12.0	60.8
EBIT ³⁾⁴⁾	€ million	5.3	-81.5	86.8
Earnings before tax (EBT)	€ million	-7.1	-98.3	81.2
Steel Division	€ million	-31.0	-129.7	98.7
Trading Division	€ million	4.0	-20.6	24.6
Tubes Division	€ million	2.6	50.8	-48.2
Services Division	€ million	5.1	-3.2	8.3
Technology Division	€ million	-13.3	-23.3	10.0
Others/Consolidation	€ million	15.5	27.7	-12.2
Earnings after tax	€ million	-13.3	-74.1	60.8
Earnings per share (undiluted)	€	-0.27	-1.38	1.11
ROCE ⁵⁾⁶⁾	%	-1.0	-7.7	6.7

Operating cash flow⁷⁾	€ million	19.2	378.7	-359.6
Capital expenditure⁸⁾	€ million	94.6	160.7	-66.2
Depreciation and amortization ⁸⁾	€ million	67.6	86.5	-19.0

Balance sheet total	€ million	8,320.4	8,404.9	-84.5
Fixed assets	€ million	3,231.6	3,037.9	193.7
Current assets	€ million	5,088.8	5,367.0	-278.2
of which inventories	€ million	1,506.2	2,194.3	-688.1
of which cash and cash equivalents	€ million	1,566.1	1,187.0	379.1
Equity	€ million	3,901.3	4,283.6	-382.4
Liabilities	€ million	4,419.1	4,121.2	297.9
Non-current liabilities	€ million	2,526.0	2,349.0	177.1
Current liabilities	€ million	1,893.1	1,772.3	120.8
of which due to banks ⁹⁾	€ million	99.3	167.1	-67.9
Net position to banks	€ million	1,483.3	1,147.2	336.0

Employees	€ million
Personnel expenses	€ million	365.3	349.1	16.2
Core workforce	31/03/	23,371	23,378	-7
Total workforce	31/03/	25,177	25,392	-215

Disclosure of financial data in compliance with IFRS
1) In regard of the participation in Hüttenwerke Krupp Mannesmann
2) EBITDA = EBT + interest paid/ - interest income + depreciation and amortization
3) changed definition from 01.01.2010 on, retrospectively adapted
4) EBIT = EBT + interest paid/ - interest income
5) ROCE = EBIT in relation to the total of shareholders' equity (without calculation of accrued and deferred taxes), tax provisions, interest-bearing liabilities (excluding pension provisions) and liabilities from financial leasing, forfaiting and asset-backed securitization
6) Annualized
7) Description changed as against previous year
8) Excluding financial assets
9) Current and non-current liabilities to banks

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