Glossar
A
- AktG
- German Stock Corporation Act (Aktiengesetz)
- AOD-Anlage
- Converter in which argon and oxygen are blown in to reduce the carbon content of the steel (AOD = Argon Oxygen Decarburization).
B
- Best Owner
- New owner of a (part) company offering the best opportunity to develop the activities.
- BRIC states
- Brazil, Russia, India and China.
- By-Products
- By-products are normally created during the production of the main product. One of the most common industrial by-products is slag from many areas of the metal industry and blast furnaces.
C
- Capital employed
- Interest-bearing invested capital.
- Cash-flow-hedge
- Securing of assets and liabilities, binding contractual agreements and extremely probable future transactions against future variations in cash flows which impact on earnings.
- Cash pooling
- Centralized balancing by the parent company of liquidity between the Group companies with the goal of reducing the Group’s external financing requirements.
- Compliance
- Adherence to laws and company policies.
- Cross selling
- Selling additional related products or services to an existing customer.
D
- DAX
- Deutscher Aktienindex (German Stock Index), compiled by Deutsche Börse. The index reflects the performance of the 30 largest and strongest selling German stocks, including ThyssenKrupp stock.
- Derivates
- Financial instruments whose value is derived from or dependent on the price movement of an underlying asset (e.g. currency, interest, commodities).
- Downstream activities
- Value-adding processing stages in the production of flat steel, such as coating, steel service or joining.
- Dual-phase steel
- Steel with a microstructure delivering good forming properties and high tensile strength.
- Due diligence
- Examination and evaluation of a company by a potential investor.
- Deferred taxes
- Deferred taxes result from temporary taxable differences in value between the local tax balance sheet and the IFRS balance sheet. They are determined for each balance sheet item as either deferred tax liabilities or deferred tax assets.
E
- EBIT
- Earnings before Interest, Taxes.
- EBITDA
- Earnings before Interest, Taxes, Depreciation and Amortization.
- EBT
- Earnings before Taxes.
- Equity ratio
- Ratio of total equity to balance sheet total (the higher the rate, the lower the indebtedness).
- E-procurement
- Purchasing materials using modern electronic media, in particular the internet.
F
- Finance lease
- Lease under which opportunities and risks associated with the object of the lease are transferred to the lessee.
- First-stage processing
- Initial processing of materials, carried out at a service center (e.g. cutting to size by sawing, milling, flame cutting and surface treatment such as grinding, coating and preserving).
- Fuel cell propulsion system
- Air-independent propulsion system, e.g. for submarines, in which electrical energy is generated directly from hydrogen and oxygen.
H
- Hedging
- Measures to secure an underlying transaction against risks (e.g. currency, interest and commodity price risks).
- HGB
- German Commercial Code (Handelsgesetzbuch).
I
- International Financial Reporting Standards (IFRS)
- The standard international accounting rules are intended to make company data more comparable. Under an EU resolution, accounting and reporting at exchange-listed companies must be done in accordance with these rules.
- ISO
- International Organization for Standardization. This institution coordinates global standards such as for quality, safety and environmental protection.
- Inventory turnover
- Inventories divided by sales multiplied by 360. The lower the ratio, the faster the inventory turnover.
J
- Just-in-sequence
- A further development of the just-in-time concept: Just-in-sequence suppliers ensure not only that materials are delivered in the required quantity at the required time, but also in the required sequence.
L
- Latente Steuern
- Latente Steuern entstehen aufgrund von temporären steuerbaren Wertunterschieden zwischen lokaler Steuerbilanz und IFRS-Bilanz. Sie werden pro Bilanzposition ermittelt und sind, vom Stichtag aus betrachtet, entweder zukünftige Steuerschulden oder Steuerguthaben.
M
- Mold
- Used in the casting of metal and alloy slabs.
- Material
- Any material with technically usable properties.
N
- Net-Working Capital
- Netto-Umlaufvermögen.
O
- One-Stop-Shopping
- Komplettlieferung bzw. -leistung von Produkten und Dienstleistungen aus einer Hand. Den Kunden ist es hierdurch möglich, an einem Anlaufpunkt mehrere komplementäre Bedürfnisse zu befriedigen.
R
- ROCE
- Return on Capital Employed.
S
- Supply-chain-management
- Integrated planning, control and monitoring of all logistics activities in the supply chain.
- Semi-finished products
- Materials which have already undergone forming and which are generally formed further to manufacture finished products (see also first-stage processing).
T
- Tailored blank
- Blank comprising individual steel sheets of different grade, gauge and finish which are welded together and are suitable for deep drawing.
V
- Volatility
- Intensity of fluctuations in share or currency prices or price changes for commodities.
