2012 business report - GMH

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2012
BUSINESS REPORT
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2012 BUSINESS REPORT
Contents
Forewords
..............................................................................................................................
Siegfried L. Drueker
Peter van Hüllen
Overview
p. 3
........................................................................................
p. 3
...............................................................................................
p. 4
....................................................................................................................................
p. 5
Supervisory Board
Board of Managing Directors
Group Overview
Locations
Stages in the Growth of the Group of Companies
Development of the Group of Companies, 1993 – 2012
...........................................................................................
p. 6
......................................................................
p. 7
................................................................................................
p. 8
..............................................................................................................
p. 9
The GMH Group
..........................
...........
p. 10
p. 14
.................................................................................................................. p.
Who we are
Market Analysis / Review
Workforce
Environmental and Resource Management
......................................................................................................
15
p. 16
...........................................................................
p. 17
...........................................................................................................
p. 18
2012 Financial Year
.......................................
p. 19
...................................................................................................... p.
Distribution of Sales Turnover by Business Unit
.............................
20
p. 21
Distribution of Sales Turnover by Market
............................................
p. 22
Distribution of Sales Turnover by Region
............................................
p. 23
Workforce Data
...............................................................................................
p. 24
Key Figures
.......................................................................................................
p. 25
Balance Sheet
Profit and Loss Account
Five-year Development
..................................................................................................
p. 26
..............................................................................
p. 27
................................................................................
p. 28
Outlook for the 2013 Financial Year
....................................................... p.
29
Contact ....................................................................................................................................... p. 30
2
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Forewords 2012 BUSINESS REPORT
Forewords
Dear Customers, Suppliers, Employees and Business Partners of the GMH Group,
Ladies and Gentlemen,
This is the first time you will be reading a “foreword“ from me as new Supervisory Board
Chairman. Since the management buy-out 20 years ago I have been closely associated with
the parent company in Georgsmarienhütte, and I am pleased now to have the opportunity of
accompanying the expanded GMH Group in a new function. Of course, it was not my wish for
my first year to coincide with the worst financial year in the Group‘s existence. Although the
majority of the 45 companies did in fact achieve a positive annual result in 2012, the losses
that accumulated at foundation structure manufacturer WeserWind Offshore Construction
GmbH, which is faltering as a result of the German government‘s energy policy turnaround,
ruined the Group result. The management of the Holding reacted quickly to this and imposed
savings measures to the value of 80 million euros on all companies. It is to our benefit
that the GMH Group has flat management hierarchies and fast decision-making structures.
Indeed, over the last few months, the savings measures have already shown first indications
of being successful.
There is as yet no significant improvement to be detected in the overall economic and political
situation. Economic growth is forecast to remain under one per cent across all industries, and
in parts is even expected to be negative. The situation for the GMH Group thus continues
to be tight in 2013. Nevertheless, anyone who has known the GMH Group for long enough
also knows that its highly motivated team with excellent engineering know-how is the best
guarantee for prevailing under difficult circumstances. Although savings must be made in
every unit, the goal remains unchanged to emerge from this crisis together and with new
vigour. The pressure of competition and for change is great, and it therefore continues to be the
Group‘s aspiration in the 2013 financial year to always be faster and better than the others.
Glück auf!
Siegfried L. Drueker
Supervisory Board Chairman
Georgsmarienhütte Holding GmbH
3
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Forewords 2012 BUSINESS REPORT
Dear Customers, Suppliers, Employees and Business Partners of the GMH Group,
Ladies and Gentlemen,
The GMH Group is unhappy with the 2012 financial year. Consolidated group sales sank
by 176 million euros to 2,686 (unconsolidated 3,657) million euros compared with the
previous year.
Two factors in particular are responsible for the worst financial year in the almost 20-year
history of the GMH Group: firstly, the stagnating order situation in our core markets
of mobility, energy and mechanical engineering and, secondly, the losses sustained in
connection with the offshore industry. Only in certain mobility sectors were we able to
counteract the trend and improve our performance. The outlook for the current year does
not provide any reason for optimism, either. As in the crisis years of 2008/2009, we have
initiated necessary but painful consequential measures. These include the cost reduction
programme, which has been imposed on all companies of the GMH Group, as well as a
temporary halt to recruitment and investments.
These measures are only intended to be short-term control instruments, however. In the
following months we will be thinking about structural modifications within the GMH
Group with a view to implementing a change of direction. The challenges are greater than
ever before – so we must be open to out-of-the-ordinary measures in our efforts to find
solutions.
At the end of last year, Georgsmarienhütte Holding GmbH sold two companies - Pleissner
GmbH in Elze and Edelstahl Service Center Burg GmbH – in keeping with the best owner
principle.
On the following pages you will find some initial “new directions” as well as a detailed
review of the 2012 financial year.
Glück auf!
Dipl.-Ing. Peter van Hüllen
Chief Executive Officer
Georgsmarienhütte Holding GmbH
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2012 BUSINESS REPORT
Overview
5
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Supervisory Board
Dr. Walter Klosterfelde
Hero Brahms
Dipl.-Volksw. Bernd Lauenroth
Chairman (until 07.06.2012)
2nd Vice Chairman
Trade Union Secretary, IG Metall Executive Branch Office
Other positions held:
Supervisory Board:
Georgsmarienhütte GmbH, Chairman (until 07.06.2012)
Other positions held:
Supervisory Board:
Deutsche Post AG
Live Holding AG, Chairman
And comparable positions held:
Krauss Maffei-Wegmann GmbH & Co. KG, München
Zumtobel AG, Dornbirn
Other positions held:
Supervisory Board:
Salzgitter AG
Dr. Leonhard Birnbaum (from 07.06.2012)
Prof. Dr. Werner Nienhüser
Member of the Management Board of RWE AG
Chair of Business Administration and Human
Resource Management, University of Duisburg-Essen
Siegfried L. Drueker
Chairman (from 07.06.2012)
Managing Director Drueker & Co. GmbH & Co. KG
Other positions held:
Supervisory Board:
Georgsmarienhütte GmbH, Georgsmarienhütte
BRAIN Biotechnology Research and Information Network AG,
Zwingenberg (from 03.05.2012)
Dietmar Hexel
1st Vice Chairman
Member of the DGB National Executive
last updated 31.12.2012
Other positions held:
Supervisory Board:
RAG-DSK AG, Essen
DGB Rechtsschutz GmbH, 2nd Vice Chairman
And comparable positions held:
Member of the Commission of the German Corporate
Governance Code
Member of the Board of DGB-Bildungswerk e.V., Düsseldorf
Member of the Board of Hans-Böckler-Stiftung
Member of the Kuratorium der Europäischen Akademie der
Arbeit (EAdA), Frankfurt / Main, Chairman
Member of the Nominations Committee of Deutsche Prüfstelle
für Rechnungslegung (DPR e.V.), Berlin
Member of the Advisory Board of Transparency International
Deutschland
Member of Enquete-Kommission Wachstum, Wohlstand,
Lebensqualität des Deutschen Bundestags
Wilfried Brandebusemeyer
Deputy Chairman of the Works Council of
Georgsmarienhütte GmbH
Speaker of the Working Group of the Works
Councils of the GMH Group
Heinz-Eberhard Holl
Member of the Management Board of RW-Holding AG
Other positions held:
Supervisory Board:
Georgsmarienhütte GmbH (until 07.06.2012)
RWE Effizienz GmbH, Vice Chairman
Dipl.-Ing. Uwe Jahn
Works Council Chairman of
Schmiedewerke/Elektrostahlwerke Gröditz GmbH
Other positions held:
Supervisory Board:
Schmiedewerke/Elektrostahlwerke Gröditz GmbH
Harald Lenski
Works Council Chairman of Pleissner Guss GmbH
Dr. Jörg Paura
Hogan Lovells International LLP
Dr. Heinrich von Pierer
Other positions held:
Supervisory Board:
Berenberg Bank, Hamburg
Koc Holding A.S., Istanbul
Dr. Georg Freiherr von Waldenfels
Clifford Chance Partnerschaftsgesellschaft
Other positions held:
Supervisory Board:
E.ON AG, Düsseldorf (until 16.11.2012)
Rothenbaum Sport GmbH, Hamburg, Chairman
(until 10.11.2012)
Comparable positions held:
Advisory Board of Coface Deutschland AG, Mainz
(until 31.12.2012)
Advisory Board Bavaria of Deutsche Bank AG
Administrative Board of Bayreuther Festspiele GmbH, Bayreuth
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Board of Managing
Directors
Dipl.-ING.
PETER van hüllen
Chief Executive Officer
Supervisory Board:
Euler Hermes Kreditversicherungs-AG
Mannstaedt GmbH
last updated 31.12.2012
Advisory Board:
Stulz GmbH
Deutsche Bank AG
Dipl.-Kfm.
Dipl.-Bankbetriebsw.
Dipl.-Betriebsw.
Dipl.-ING.
Hartwig kockläuner
Thomas Löhr
Harald Schartau
wolfgang schmidt
Managing Director
Market and Purchasing
Managing Director
Finances and Controlling
Managing Director
Human Resources and
Labour Director
Managing Director
Technology
Supervisory Board:
Seissenschmidt AG
Advisory Board:
KfW IPEX Bank
Commerzbank AG Nordwest
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Group Overview
Group Overview
Georgsmarienhütte Holding GmbH
Raw Materials
Recycling
Steel Production
Forging Technology
Rohstoff Recycling
Osnabrück GmbH
Georgsmarienhütte GmbH
Schmiedewerke / Elektrostahlwerke Gröditz GmbH
Stahlwerk Bous GmbH
Bous
Gröditzer Kurbelwelle
Wildau GmbH
Dieckerhoff Guss GmbH
ESB SPRL
Engineering Steel Belgium
Gröditzer Werkzeugstahl
Burg GmbH
Mannstaedt GmbH
Energietechnik Essen GmbH
GMH Blankstahl GmbH
Schmiedag GmbH
Adolf Ellermann GmbH
Osnabrück
Rohstoff Recycling
Dortmund GmbH
Dortmund
Seraing / Belgium
Troisdorf
Wildau
Burg
Essen
Services
Walter Hundhausen GmbH
Kranbau Köthen GmbH
BGG Berufsbildungsgesellschaft
Georgsmarienhütte mbH
Alpha-Elektronik GmbH
Köthen
GSG Georgsmarienhütte
Service GmbH
Harz Guss Zorge GmbH
Saalfelder Hebezeugbau GmbH
GMH Engineering GmbH
BALO-MOTORTEX GmbH
Castrop-Rauxel
Plant Engineering
GMH Systems GmbH
Schwerte
Gevelsberg
Zorge / Südharz
Köthen
Saalfeld / Saale
Georgsmarienhütte
Georgsmarienhütte
Georgsmarienhütte
Georgsmarienhütte · Gröditz
Hagen · Homburg
Mechanical Engineering
Castings
IAG MAGNUM GmbH
ESC Burg GmbH
Georgsmarienhütte · Böbingen / Rems
Heinrich Geissler GmbH
Blankstahlwerk
Wildauer
Schmiedewerke GmbH & Co. KG
Friedrich Wilhelms-Hütte
Eisenguss GmbH
WeserWind GmbH Offshore
Construction Georgsmarienhütte
GMH Prüftechnik GmbH
Windhoff Bahn- und
Anlagentechnik GmbH
Witten
Wildau
Mülheim an der Ruhr
WISTA
Stahlhandel Witten GmbH
Railway Systems
Pleissner GmbH
Steel Processing
Bochumer Verein
Verkehrstechnik GmbH
Friedrich Wilhelms-Hütte
Stahlguss GmbH
Stahl Judenburg GmbH
Radsatzfabrik Ilsenburg GmbH
Pleissner Guss GmbH
VTK Veredelungstechnik
Krieglach GmbH
Bahntechnik
Brand-Erbisdorf GmbH
Stahlguss Gröditz GmbH
MWL Brasil
Rodas & Eixos Ltda.
Aluminium Castings
Witten
Judenburg / Austria
Krieglach / Austria
MVO GmbH
Metallverarbeitung Ostalb
Schwäbisch Gmünd
BISHOP
Steering Technology Pty Ltd
Sydney / Australia
last updated 31.12.2012
Gröditz
Crane Systems
Bochum
Ilsenburg
Brand-Erbisdorf
Caçapava – São Paulo / Brazil
Elze
Osnabrück
Bremerhaven
Burg
Nürnberg
Rheine
Mülheim an der Ruhr
Herzberg
Gröditz
MWK Renningen GmbH
Renningen
MWK Schwäbisch Gmünd GmbH
Schwäbisch Gmünd
10/2012
Osnabrück
Georgsmarienhütte
Castings
Automotive
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
last updated 31.12.2012
Locations
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Stages in the Growth of
the Group of Companies
1993 1995 1997 1998 1999 2000 2001 2002 2003
2004 2005 2006 2007 2008 2009 2010 2011 2012
1995
1998
Georgsmarienhütte GmbH acquires the
following companies:
The newly formed Holding takes over
RRO Rohstoff Recycling Osnabrück
GmbH, Osnabrück
Adolf Ellermann GmbH, Osnabrück
Stahl Judenburg GmbH, Judenburg,
Austria
Majority controlling interest in Wärmebehandlung Osnabrück GmbH, Osnabrück
last updated 31.12.2012
1993
Dr. Jürgen Großmann, together
with Drueker & Co. GmbH, takes
over Klöckner Edelstahl GmbH in
Georgsmarienhütte in a management buy-out and, from it, forms
Georgsmarienhütte GmbH,
Georgsmarienhütte
1997
Takeover of
MAGNUM Metallbearbeitung GmbH, Osnabrück
Wärmebehandlung Osnabrück GmbH, Osnabrück
Industrie-Anlagen-Bau Georgsmarienhütte GmbH, Georgsmarienhütte (IAG)
Bochumer Verein Verkehrstechnik GmbH, Bochum
Radsatzfabrik Ilsenburg GmbH, Ilsenburg
Eberhard Metalle und Recycling GmbH, Osnabrück
VSG Energie- und Schmiede­technik GmbH, Essen and Hattingen
Kranbau Köthen GmbH, Köthen
Stahlwerk Bous GmbH, Bous
J. Adolf Bäuerle GmbH & Co. KG, Böbingen/Rems
Umformtechnik Bäuerle GmbH, Böbingen/Rems
Gröditzer Stahlwerke GmbH, Gröditz
Walzwerk Burg GmbH, Burg
Wildauer Kurbelwelle GmbH, Wildau
Transfer of the shares held by Drueker & Co. GmbH in Georgsmarienhütte GmbH;
Dr. Jürgen Großmann becomes sole owner
Establishment of
Georgsmarienhütte Holding GmbH, Georgsmarienhütte
Hamburg (01.10.1997)
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Stages in the Growth of
the Group of Companies
1993 1995 1997 1998 1999 2000 2001 2002 2003
2004 2005 2006 2007 2008 2009 2010 2011 2012
1999
2001
The expansion continues with:
The Georgsmarienhütte Group of Companies grows to include:
Schmiedag GmbH & Co. KG, Hagen · Homburg
SAW Blankstahl GmbH, Böbingen/Rems
2000
ASL Aircraft Services Lemwerder GmbH, Lemwerder
(52.5 % interest)
RRD Rohstoff Recycling Dortmund GmbH, Dortmund
Friedrich Wilhelms-Hütte GmbH, Mülheim a.d.R.
last updated 31.12.2012
The new Casting Business Unit is established:
BALO-MOTORTEX GmbH, Castrop-Rauxel
Pleissner Guss GmbH, Herzberg
(former AEK InterForm GmbH)
Dieckerhoff Guss GmbH, Gevelsberg
(former AEK InterForm GmbH)
Harz Guss Zorge GmbH, Zorge
(former AEK InterForm GmbH)
Walter Hundhausen GmbH, Schwerte
Pleissner GmbH, Elze
2002
Acquisitions by the GMH Group:
Heinrich Geissler GmbH, Witten
WISTA Stahlhandel Witten GmbH, Witten
Windhoff Bahn- und Anlagentechnik GmbH, Rheine
Share (25.2 %) in Metallwerke Kloß GmbH,
Renningen
EICKHOFF Industrie-Anlagenbau und Montagen GmbH,
Mülheim a.d.R.
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
Stages in the Growth of
the Group of Companies
1993 1995 1997 1998 1999 2000 2001 2002 2003
2004 2005 2006 2007 2008 2009 2010 2011 2012
2004
2006
The GMH Group looks to the Far East ...
Georgsmarienhütte Holding GmbH acquires
Opening of Representative Office in Beijing, China
Mannstaedt GmbH
KFT GmbH Kran- und Fördertechnik Nürnberg,
Nürnberg
Friedrich Wilhelms-Hütte GmbH demerges into
Friedrich Wilhelms-Hütte Stahlguss GmbH, Mülheim
Friedrich Wilhelms-Hütte Eisenguss GmbH, Mülheim
2003
Bahntechnik Brand-Erbisdorf GmbH, Brand-Erbisdorf
Closure of VSG sites in Essen and Hattingen (2002);
transfer of assets to
Energietechnik Essen GmbH, effective 01.01.2004
Wildauer Kurbelwelle GmbH demerges into independent
companies:
2005
last updated 31.12.2012
The Group continues to grow:
Stahlguss Gröditz GmbH,
WeserWind GmbH,
MWK Metallwerke Kloß GmbH (50 % interest)
Eberhard Metalle und Recycling GmbH merges
with Adolf Ellermann GmbH
2007
Alpha-Elektronik GmbH, Köthen
GMH Engineering GmbH, Georgsmarienhütte
Hittmeyer Rohstoffe GmbH, Dortmund
Gröditzer Kurbelwelle Wildau GmbH, Wildau
Wildauer Schmiedewerke GmbH, Wildau
Sale of majority controlling interest in:
ASL Aircraft Services Lemwerder GmbH to EADS
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
13
Stages in the Growth of
the Group of Companies
1993 1995 1997 1998 1999 2000 2001 2002 2003
2004 2005 2006 2007 2008 2009 2010 2011 2012
2008
The Group continues to grow:
Saalfelder Hebezeugbau GmbH, Saalfeld, Saale
Franz Maier Mechanische Werkstätte GmbH, Schwäbisch Gmünd
Amalgamation of
IAG Industrie-Anlagen-Bau Georgsmarienhütte GmbH
and MAGNUM Metallgesellschaft GmbH
to form
IAG MAGNUM GmbH
Takeover of remaining 50 % share in
MWK Metallwerke Kloß GmbH, Renningen
and demerger of three production locations into
independent businesses
last updated 31.12.2012
MWK Renningen GmbH, Renningen
MWK Maulbronn GmbH, Maulbronn
MWK Schwäbisch Gmünd GmbH, Schwäbisch Gmünd
2011
2009
The GMH Group continues to grow:
The Group continues to grow:
Takeover of
Takeover of
BST Bishop Steering Technologies Ltd.
(BST), Australia,
ESB SPRL Engineering Steel Belgium, Seraing, Belgium
and of its subsidiaries
Establishment of
GMH Prüftechnik GmbH
Amalgamation of
Umformtechnik Bäuerle GmbH and
Franz Maier Mechanische Werkstätten GmbH
to form
MVO GmbH Metallverarbeitung Ostalb
Amalgamation of Hittmeyer Rohstoffe GmbH and
2012
BST Inc., USA und BST GmbH, Germany
Amalgamation of Business Units Iron Castings
and Steel Castings Mechanical Engineering to form
Castings Mechanical Engineering
Amalgamation of J.A. Bäuerle GmbH & Co. KG and
GMH Blankstahl GmbH to form
GMH Blankstahl GmbH
RRD Rohstoff Recycling Dortmund GmbH
Sale of
Closure of
Pleissner GmbH, Elze
MWK Maulbronn GmbH
Sale of
2010
The GMH Group acquires
MWL Brasil Rodas & Eixos Ltda.,
Caçapava, São Paulo, Brazil
ESC Burg GmbH
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Overview
Unternehmensbericht_2012
2012 BUSINESS REPORT
DEVELOPMENT OF
THE GROUP OF COMPANIES,
1993 – 2012
Sales turnover
mln. €
Number of
employees
12,000
3,500
3,000
10,000
2,500
8,000
2,000
6,000
1,500
4,000
1,000
2,000
500
0
last updated 31.12.2012
Number of
companies
1993 1994199519961997199819992000200120022003200420052006200720082009201020112012
1 1 5 5 10202229323739394243445150494848
Sales turnover
Employees
0
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2012 BUSINESS REPORT
THE GMH GROUP
1515
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The GmH Group 2012 BUSINESS REPORT
WHO WE ARE
For almost 20 years the GMH Group
The Group realises many challenging
has enjoyed a close association with its
orders on a one-stop basis, ranging
namesake location, Georgsmarienhütte,
from the starting material through to
to the south of Osnabrück. The purchase
the complex end product, and to do so
in 1993, and the subsequent restructuring
operates numerous production sites and
of what was, at the time, a run-down steel
engineering offices around the globe. Its
mill seen to be on its last legs, proved to
extensive portfolio of products and services
be the birth of the group of companies.
are organised into business units spanning
recycling, steel, forging, casting and
Today, under the strategic umbrella of
engineering. Many companies with the red
Georgsmarienhütte Holding, 45 companies
signet have already established themselves
develop and shape a wide range of fields in
as technological leaders in their specific
which iron, steel and aluminium materials
market segments.
are used. Quality, reliability and flexibility
have long been paramount for the daily
It is thus that the products of the GMH Group
activities of the 11,500-strong workforce.
are used wherever the demands placed
With their know-how, the GMH Group
on the material are particularly high, such
looks to identify international market
as in the construction of power plants,
trends faster than the competition and to
ships or crane installations. Three core
present each customer, where possible,
markets – mobility, energy and mechanical
with single-source solutions along the
engineering – form the strategic focus.
value chain.
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The GmH Group 2012 BUSINESS REPORT
MARKET ANALYSIS /
REVIEW
The 2012 financial year showed in particu-
manufacturing, railway technology, ship-
larly serious terms how economic fluctua-
building and energy machinery markets.
tions, political developments and ensuing
This downward trend is due partly to
uncertainties in world markets have a direct
problems in the European currency union
effect on the metal processing industry. The
and, particularly in Germany, to the lack of
increasing pressure of competition, and the
clarity where implementation of the energy
economic cycles that alternate with increas-
policy turnaround is concerned.
ing celerity as globalisation progresses are
confronting the GMH Group with immense
Ultimately, the GMH Group deviated nega-
challenges.
tively from the budget set for the 2012
financial year on both the sales and results
Following a relatively satisfactory first quar-
side. GMH Holding reacted promptly to the
ter, the export markets of the GMH Group,
negative trend with a Group-wide, compre-
above all China and Brazil, experienced a
hensive cost cutting programme which also
serious slump in the further course of the
includes a temporary halt to investments
past financial year. There was also a clear
and recruitment. Within the scope of the
downturn in the offshore wind industry
consolidation it was also decided to sell two
where upfront capital investments have so
companies, Pleissner GmbH in Elze and
far failed to generate any return for the
Edelstahl Service Center Burg GmbH,
GMH Group which, at the WeserWind loca-
effective 31 December 2012. In keeping
tion in Bremerhaven, produces foundation
with the best owner principle, the new
structures for wind farms. There was also a
owners are more likely to be in a position
strong decline in demand in the vehicle
to exploit corresponding synergies.
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The GmH Group 2012 BUSINESS REPORT
WORKFORCE
Particularly in difficult times, it is important
additionally significant. With an average
to be able to rely on employees as the core
training rate of seven per cent, as well as
element of a company. Which is why, also
various co-operation arrangements with
in the past financial year, the GMH Group
universities, the GMH Group regularly
was perceived as a successful employer
draws young talents‘ attention to career
brand that stands out not only through
prospects in an exciting working environ-
human resources management character-
ment. Also, manifold further training pos-
ised by flat hierarchies, fast decision-
sibilities are available to the employees
making structures and self-responsibility.
at all the companies. In 2012, selected
The constant promotion of health and
next-generation managers yet again par-
improvement of working conditions also
ticipated in the Group‘s own advancement
ensure the cohesion required in such a
programme. And, as has been the case in
turbulent sector.
the past, if a company within the Group
earns money sustainably, all the employees
In times of demographic change and
participate in the form of profit-sharing.
shortages of skilled labour, the recruitment
After all, where we are concerned, challen-
of new, qualified personnel is becoming
ges and advancement go hand-in-hand.
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The GmH Group 2012 BUSINESS REPORT
ENVIRONMENTAL AND
RESOURCE MANAGEMENT
The GMH Group is conscious of its responsible
German industrial enterprises in view of rising
role in the context of Germany’s turnaround in
electricity prices, unclear exemptions under
energy policy. It is steel material that makes it
Germany’s Renewable Energy Act, and inter-
at all possible to tackle this mammoth task –
ventions in CO2 emissions trading. The turn-
not only on account of its good recyclability
around in energy policy can only succeed with
but also, especially, because it finds use wher-
an economically sustainable and internationally
ever renewable energy is realised in practice –
agreed concept. If policymakers manage to
for example in the manufacture of foundation
turn this project into an export success, then
structures for wind energy turbines, the con-
corresponding innovations and products such
struction of modern power plant machinery,
as those of the GMH Group will also become
or in the production of fuel-efficient motor
increasingly marketable abroad in future.
vehicles. The GMH Group began investing in
forward-looking technologies for these fields
Conservation of the environment must always
of application at an early stage.
start in our own backyard. That is why the
GMH Group is investing continuously in order
The 2012 financial year shows, however, that
to reduce energy consumption and pollutant
the proper groundwork for successful long-term
emissions at all its operating locations. The
corporate commitment in this country has not
Group companies are all environmentally
been done at the political level. Competitiveness
certified, and energy management systems
is becoming ever more difficult to maintain for
established.
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2012 BUSINESS REPORT
2012 FINANCIAL YEAR
2020
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2012 Financial year 2012 BUSINESS REPORT
Distribution of
Sales Turnover
by Business Unit
Service / Others 1.53 %
Plant Engineering 5.46 %
Raw Materials Recycling 4.38 %
Crane Systems 2.16 %
Aluminium Castings 2.06 %
Castings Mechanical Engineering 6.36 %
Castings Automotive 9.68 %
Sales Turnover Total:
2,685.7 Mln. EUR
last updated 31.12.2012
Railway Systems 9.38 %
Forging Technology 12.26 %
Steel Processing 5.04 %
Steel Production 41.69 %
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2012 Financial year 2012 BUSINESS REPORT
Distribution of
Sales Turnover
by Market
Mobility: 48 %
Energy: 23 %
last updated 31.12.2012
Mechanical Engineering: 20 %
Others: 9 %
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2012 Financial year 2012 BUSINESS REPORT
Distribution of
Sales Turnover
by Region
last updated 31.12.2012
RegionSales Turnover 2012
1,817 Mln. €
7 Germany
7 Europe
523 Mln. €
127 Mln. €
7 Asia
7 America
56 Mln. €
163 Mln. €
7 Others
%
68
19
5
2
6
Total2,686 Mln. € 100
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2012 Financial year 2012 BUSINESS REPORT
WORKFORCE DATA
WORKFORCE DATA
2012
2011
10,506
100.0 %
10,566
100.0 %
Blue-collar
7,730
73.6 %
7,849
74.3 %
of whom skilled labour
5,270
68.2 %
5,296
67.5 %
White-collar
2,776
26.4 %
2,717
25.7 %
960
34.6 %
930
34.2 %
652
6.5 %
674
6.9 %
5,484
52.2 %
5,312
50.3 %
Total number of employees
(on 31.12.2012)
of whom holding university qualification
Number of trainees
Number of employees participating
in ongoing training
2012
Personnel expense
Personnel expense per employee/year*
Average employee absence due to sickness
Sales turnover per employee
Fixed assets per employee
* in relation to the average number of employees
last updated 31.12.2012
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2011
614 Mln.
EUR
615 Mln.
EUR
57,742
EUR
59,312
EUR
5.0 %
5.1 %
252,366
EUR
275,944
EUR
72,250
EUR
71,916
EUR
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2012 Financial year 2012 BUSINESS REPORT
KEY FIGURES
KEY FIGURES, GMH GROUP
2012
2011
Group sales (consolidated)
in Mln.
EUR
2,685.7
2,862.1
Result from ordinary activities
in Mln.
EUR
-26.5
117.8
Return on sales (EGT/sales turnover)
in %
-0.99
4.12
ROCE (EGT/Capital Employed)
in %
-2.45
10.97
Depreciation
EBITDA
Expenditure (on capital assets)
*
Working Capital
Workforce, incl. trainees
* incl. changes to the group of consolidated companies
last updated 31.12.2012
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in Mln.
EUR
96.9
96.4
in Mln.
EUR
111.2
245.6
in Mln.
EUR
129.6
126.0
in Mln.
EUR
310.6
327.9
on 31.12.
11,158
11,240
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2012 Financial year 2012 BUSINESS REPORT
BALANCE SHEET
Assets i n MLN. EUR
2012
2011
769
51 %
746
48 %
692
46 %
668
43 %
77
5 %
78
5 %
Current assets
739
49 %
815
52 %
Inventories
354
23 %
328
21 %
Trade receivables
143
10 %
155
10 %
64
4 %
103
6 %
178
12 %
229
15 %
1,508
100 %
1,561
100 %
Fixed assets
Tangible and intangible assets
Financial assets
Miscellaneous assets
Liquid assets
EQUITY AND LIABILITIES in MLN. EUR
2012
2011
492
33 %
597
38 %
6
0 %
7
0 %
Accruals
397
26 %
419
27 %
Liabilities
613
41 %
538
35 %
Bank borrowings
292
19 %
213
14 %
Trade payables
187
13 %
154
10 %
Miscellaneous
134
9 %
171
11 %
1,508
100 %
1,561
100 %
Equity
Special reserves and balancing items
last updated 31.12.2012
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2012 Financial year 2012 BUSINESS REPORT
PROFIT &
LOSS ACCOUNT
IN MLN. EUR
2012
2011
2,774
100 %
2,976
100 %
1,870
67.4 %
1,946
65.4 %
Gross result from operations
903
32.6 %
1,030
34.6 %
Personnel expense
614
22.2 %
615
20.7 %
- 177
- 6.4 %
- 170
- 5.7 %
111
4.0 %
245
8.2 %
Depreciation, amortisation and writedowns
97
3.5 %
96
3.2 %
EBIT
14
0.5 %
149
5.0 %
Financial result
- 41
- 1.4 %
- 31
- 1.0 %
Result from ordinary activities
- 27
- 1.0 %
118
4.0 %
Extraordinary result
- 22
- 0.8 %
- 11
- 0.4 %
40
1.4 %
55
1.8 %
- 88
- 3.2 %
52
1.8 %
Total operating performance
Materials expense
Other operating expense and income
EBITDA
Taxes
Group net income
last updated 31.12.2012
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2012 Financial year 2012 BUSINESS REPORT
FIVE-YEAR DEVELOPMENT
2012
2011
2010
2009
2008
2,685.7
2,862.1
2,403.9
2,059.1
3,291.6
Net income
- 88
52
19
- 24
176
Equity
492
597
606
588
619
Blue-collar
7,857
7,714
7,077
7,212
7,731
White-collar
2,785
2,660
2,466
2,467
2,479
652
607
651
665
623
11,294
10,981
10,194
10,344
10,833
in Mln. EUR
Sales turnover
Workforce
(annual average)
Trainees
Total
last updated 31.12.2012
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2013 Outlook
Unternehmensbericht_2012
2012 BUSINESS REPORT
OUTLOOK FOR THE
2013 FINANCIAL YEAR
Considering the current business situation,
become necessary to transfer the manufac-
no economic recovery is foreseeable for
ture of individual products to wherever this
the next financial year, either – at best
can take place on more competitive terms.
there will be stabilisation at the level of
The future perspective must be to occupy
the previous year. The GMH Group is
additional links in the value chain and to
working effectively to counter the negative
develop market positions further.
trend with extensive cost-cutting measures,
which all the Group companies have under-
At the same time, policymakers are called
taken to implement, and is re-positioning
upon to create fair conditions as quickly
itself to face the challenges ahead. The
as possible so that the GMH Group is
freeze on investments and recruitment is
also in a position to play an active and
to remain in place until further notice.
economically viable role in implementing
Germany‘s turnaround in energy policy.
In 2013, the GMH Group will increasingly
The current situation requires from all
have to address issues relating to its stra-
concerned the courage to undertake
tegic focus. Despite commitment to the
change, a rapid reorientation, as well as
industrial location of Germany, it may
resolute, concerted action.
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Contact
Unternehmensbericht_2012
2012 BUSINESS REPORT
CONTACT
If you would like to contact us, please use one of the options given below.
On the websites of the GMH Group – at www.gmh-gruppe.de – you will
find further information about us and about the range of products and
services offered by the individual business units, as well as recent news.
Neue Hüttenstraße 1
49124 Georgsmarienhütte
Germany
Elbchaussee 189
22605 Hamburg
Germany
Tel. + 49 (0) 5401 39-0
Fax + 49 (0) 5401 39-4040
Tel. + 49 (0) 40 284069-0
Fax + 49 (0) 40 284069-29
last updated 31.12.2012
[email protected]
www.gmh-group.com
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