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�� Nine-month turnover increased by 10% to €158.5 million
�� EBITDA rises by 40% to €15.8 million after three quarters
�� Medium-term outlook clearly lifted following ESM integration

Unterneukirchen, 12 November 2007. SKW Stahl-Metallurgie Holding AG shows a
clear upward trend in all significant financial indicators after three quarters in 2007.
Nine-month turnover climbed 10% to €158.5 million. EBITDA (earnings before
interest, taxes, depreciation and amortisation) leapt by 40% to €15.8 million year-onyear.
In the third quarter, turnover increased by 17% and operating profit improved by
25%.
The US-based ESM Group will be consolidated in the SKW Metallurgie Group from
October 2007. The guidance for the annual turnover will therefore be raised to
€235 million. According to IFRS, due to non-cash fair value adjustments within the
scope of the first consolidation, ESM will however not yet realise a significant
earnings contribution at Group level despite good operating results. The previous
EBITDA forecast of €18.5 million to €19.5 million for 2007 therefore remains current.
However, from 2008 the full turnover and EBITDA contributions from ESM are
expected. SKW Metallurgie is therefore raising the existing medium-term forecast for
2011 for turnover to at least €360 million. The Group’s Executive Board is setting the
bar at 9% for the return on an EBITDA basis.
“After three quarters of 2007, SKW Metallurgie is showing clear improvements in
turnover and earnings. ESM will realise full turnover and EBITDA contributions from
2008, which is why we have made an upward adjustment to our medium-term
forecast for 2011”, said Ines Kolmsee, CEO of SKW Metallurgie.


Adjusted EBITDA rises in third quarter by 25%
SKW Metallurgie’s Group turnover increased by around 17%, rising from
€44.9 million to €52.5 million in the third quarter. On a cumulative basis, turnover for
nine months increased by 10%, up from €144.2 million to €158.5 million. Taking the
previous year’s US$/€ exchange rate as a basis, the Group’s turnover in that period
would have turned out €5.6 million higher.
The Group’s profitability was also further improved. The gross margin rose from
20.8% to 25.0% in the nine-months comparison. The increase in EBITDA for the first
nine months was over 40%, rising from €11.3 million to €15.8 million.
Adjusted for one-off effects i.e. focused on the Group’s operating performance,
EBITDA increased by 28% from €9.5 million to €12.2 million in the nine-month period.
In the third quarter, the operating increase was 25% (from €3.2 million to
€4.0 million).
On EBIT-level, a significantly higher figure of €13.9 million was achieved on a ninemonths
level than a year before (€9.9 million). The currency translation effects from
the weak US$ impeded approximately €0.5 million higher earnings. Pre-tax profit
between January and September was at €14.0 million (previous year: €9.4 million),
and due to a clearly lower tax rate, after-tax profit increased by over 60% to
€10.7 million. Based on approximately 4.4 million shares, this equates to earnings
per share of €2.42. A meaningful year-on-year comparison is not possible, since
SKW Metallurgie has only been a stock corporation since mid-2006.


Asset quality continuously solid
SKW Metallurgie continues to show an above-average, high equity ratio of 57.0% (31
December 2006: 59.6%). Thanks to the good business development, gross cash flow
was improved from €7.0 million to €9.4 million.
Strong EBITDA contribution from ESM as of 2008
Following successful completion of the take-over of the ESM Group, the new US
subsidiary will be consolidated in the Powder and Granules segment from October
2007. The guidance for total turnover for 2007 will correspondingly be raised from the
previous €210 million €230 million to the new level of €235 million.
Non-cash fair value adjustments within the scope of the first consolidation
reduce ESM result in the fourth quarter
The previous EBITDA forecast of €18.5 million to €19.5 million for 2007 remains
current. Due to the non-cash fair value adjustments (write-up of the inventory to
current higher market values) within the scope of the first consolidation, the clearly
positive operating earnings contribution of the ESM Group will be reduced to virtually
zero for the fourth quarter of 2007.
In 2008, ESM will deliver the expected turnover and EBITDA contributions despite
smaller subsequent effects from the inventory re-evaluation anticipated for the first
quarter of 2008.
Medium-term planning adjusted clearly upwards
SKW Metallurgie’s medium-term targets for 2011 were accordingly adjusted
upwards following integration of ESM. The new Group turnover target is around
€360 million. The EBITDA margin should increase to 9% by 2011.
Additional information on the SKW Metallurgie Group may be found on the
website: www.skw-steel.com


Contact:
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Fabrikstrasse 6
84579 Unterneukirchen
Germany
Phone: +49 8634-617596
Fax: +49 8634-617594
E-mail: schunck@skw-steel.com
Internet: www.skw-steel.com

About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie, according to own market studies, is the world market leader for numerous chemical additives for hot
metal desulphurization, and for secondary metallurgy. The Group’s products enable steel makers to efficiently
manufacture high-quality steel products. Among their clients are the world-leading steel corporations. The SKW
Metallurgie Group has more than 50 years of metallurgical know how, and is today active in more than 40 countries.
Approximately 47% of its turnover is generated in Europe and 43% in the NAFTA region (2006). Moreover, the Group is
a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the
paper industry. SKW Metallurgie’s operations are structured into the three business segments “Cored Wire” (brand
name: Affival), “Powder and Granules” (brand names: ESM, and SKW Metallurgie), and “Quab” (brand name: Quab).
SKW Metallurgie Group Headquarters are located in Germany. Production sites are situated in France, the USA (6),
Canada, South Korea, PR of China (2), and India (2 in a joint venture).
Since 1 December 2006, the shares of SKW Stahl-Metallurgie Holding AG have been quoted in the Prime Standard
segment of the Stock Exchange in Frankfurt am Main, Germany (ISIN DE000SKWM013).


DISCLAIMER
This press release contains statements on future developments that are based on currently available information and
involve risks and uncertainties that could cause the actual results to differ from these forward-looking statements. These
risks and uncertainties include, for example, unforeseeable changes to political and economic conditions, in particular in
the steel production industry, the competitive situation, the development of interest rates and exchange rates,
technological developments and other risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and its
Group companies accept no obligation to update such forward-looking statements.


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