Principles of accounting and consolidation, balance sheet reporting and valuation methods
- The consolidated financial report of Salzgitter AG, Salzgitter, for the reporting period from January 1 to
March 31, 2009, has been prepared as a condensed report with selected notes. The report has been
drawn up, as before, in accordance with the International Financial Reporting Standards (IFRS)
published by the International Accounting Standards Board (IASB) in consideration of the requirements
contained in IAS 34 for condensed interim reports.
- In comparison with the annual financial statements as at December 31, 2008, no changes have been
made in the accounting, valuation, calculation and consolidation methods applied to the interim
financial statements for the period ended March 31, 2008.
- For the first time, the following companies have been consolidated fully or on a pro-rata basis:
- Salzgitter Hydroforming GmbH & Co. KG, Crimmitschau
- Salzgitter Mannesmann Stahlhandel s.r.o., Prague; (Czech Republic)
- Berg Spiral Pipe Corporation, Wilmington (USA)
Selected explanatory notes to the income statement
- Sales by division are shown in the segment report.
- Earnings per share are calculated pursuant to IAS 33. The undiluted earnings per share based on the
weighted number of shares of Salzgitter AG came to €-1.38 in the period under review.
Related Party Disclosures
In addition to business relationships with companies that are consolidated fully and proportionately in the
consolidated financial statements, relationships also exist with associated companies and shareholdings that
must be designated as related companies in accordance with IAS 24. All business transactions with related
companies are conducted on terms that also customarily apply among third parties. Deliveries and services
rendered for related companies primarily concern deliveries of sheet piling to ThyssenKrupp GfT Bautechnik
GmbH for resale and crude steel products supplied for processing. The deliveries and services rendered
essentially comprise deliveries of input material for the manufacture of large-diameter pipes and precision tubes.
Their volumes are shown in the table below:
||Sale of goods and
||Purchase of goods
|Thyssen Krupp GfT Bautechnik
|Hüttenwerke Krupp Mannesmann
Information pursuant to Section 37w para. 5 of the German Securities Trading Act (WpHG)
The interim financial statement and interim management report have not been subjected to an auditor’s review.
Financial calendar 2009
|March 5, 2009 ||Key data for financial year 2008|
|March 26, 2009 ||Publication of consolidated financial statements for 2008|
Annual press conference
|March 30, 2009 ||Analyst conference in Frankfurt/Main|
|March 31, 2009 ||Analyst conference in Frankfurt/Main|
|May 14, 2009 ||Interim report for the first quarter 2009|
|May 27, 2009 ||Ordinary Shareholders’ Meeting|
|August 13, 2009 ||Interim report for the first half 2009|
Analyst conference in Frankfurt/Main
|August 14, 2009 ||Analyst conference in London|
|November 12, 2009 ||Interim report for the first nine months 2009|
|December 31, 2009 ||End of financial year 2009|
Some of the statements made in this report possess the character of forecasts or may be interpreted as such.
They are made upon the best of information and belief and by their nature are subject to the proviso that no
unforeseeable deterioration occurs in the economy or in the specific market situation pertaining to the Division
companies, but rather that the underlying bases of plans and outlooks prove to be accurate as expected in terms
of their scope and timing. The company undertakes no obligation to update any forward-looking statements.
The official financial report for the period under review in this document is the German-language hardcopy
version of the Salzgitter AG Interim Report. In case of ambiguity between this document and any other version of
the interim report, information provided in the German-language hardcopy version shall supersede information
provided in any other form.