At a Glance 2016/17 2 TRIMET ALUMINIUM SE – at a GLANCE 2016/17 3
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10 Years of TRIMET Hamburg TRIMET Aluminium SE At a glance 2016/17 2 TRIMET ALUMINIUM SE – AT A GLANCE 2016/17 3 AT A GLANCE TRIMET ALUMINIUM SE IN € MILLION 2017 2016 2015 2014 2013 FINANCIAL PERFORMANCE Sales 1,244.6 1,351.7 1,491.4 1,161.6 1,177.6 EBITDA 90.2 87.1 98.3 47.7 35.8 Depreciation –31.4 –36.1 –37.3 –29.5 –26.9 Interest result –8.8 –5.7 –9.5 –7.4 –7.4 Net income 33.9 31.2 40.5 8.3 1.7 FINANCIAL POSITION Total assets 569.4 539.0 523.3 481.5 458.2 Equity 282.5 254.6 231.9 192.4 184.0 Ratio of equity to total assets in percent 49.6 47.2 44.3 40.0 40.2 Net debt to banks –49.6 –46.3 –66.2 –73.1 –80.9 Capex 47.2 47.1 44.3 43.8 39.9 EMPLOYEES Employees at year end (number) 1,600 2,033 1,960 1,923 1,647 – thereof trainees (number) 65 99 83 79 88 Personnel expenses 106.6 124.3 120.4 87.9 84.2 The closing date is June 30. Unlike in previous years, the above figures for 2017 no longer include the Automotive Division at the Harzgerode location. This division was spun off with economic effect as of July 1, 2016. 4 FOREWORD BY THE OWNER DEAR READER, TRIMET is a family business and will remain so in the future. As a family business, TRIMET stands for independence, sustainable growth, job security at all locations, and successful economic activity. Heinz-Peter Schlüter founded our company on these principles, consistently shaping and running it for more than 30 years. Continuing the legacy of the founder is, therefore, far more than just a commitment. It is part of our conviction, as well as our self-conception, to develop TRIMET in this spirit. We – my entire family and I – stand for this together. TRIMET is dependable. Our customers appreciate and trust us, because we know their needs and offer solutions – and because we keep our word. We also expect dependability from political policies, for as a company, we must be able to rely on a valid regulatory framework. Dependability also characterizes collaboration within our company. TRIMET’s success is essentially the success of all employees, who with their performance, ideas, and commitment contribute to the TRIMET “spirit.” On the following pages, this report will look back at the development of TRIMET’s Hamburg plant, which started ten years ago. This has succeeded mainly thanks to our employees’ experience, energy, and dedication. In this respect, Hamburg serves as an example, and represents all of TRIMET’s locations. Dependability, cooperation, and trust are values that are also important to us beyond the factory gates. It is a matter of course for the TRIMET family to take on responsibility at our plants as good neighbors and demonstrate social com- mitment. We are hard at work advancing the training initiatives for refugees that were launched two years ago by Heinz-Peter Schlüter. Meanwhile, twelve young people have started their professional careers at TRIMET, accompanied by qualification measures and a mentoring program supported by various staff members working as volunteers. More will follow in the coming years. TRIMET ALUMINIUM SE – AT A GLANCE 2016/17 5 TRIMET can look back on a successful year. Economic success forms the ba- sis of our actions. In a dynamic market with rising demands, we are positioning ourselves well by orienting ourselves on our values. Success has come, above all, thanks to the Management Board and to all our employees. I would like to take this opportunity to personally thank you very much for your commitment and loyalty. Warm regards, Karin Schlüter, owner and member of the Management Board of TRIMET SE Karin Schlüter Owner and member of the Management Board of TRIMET SE 6 FOREWORD BY THE MANAGEMENT BOARD ALUMINUM MAKES LIFE EASIER TRIMET’s production locations look back on a long industrial history. Yet aluminum is a fairly recent material. Thanks to its versatility and its material properties, it has enjoyed a rapid rise in recent decades. Aluminum has enabled the development of many modern products. And in the fu- ture, there will be many more products that would not have seen the light of day without aluminum. The metal also owes its growing importance to its sustainabil- ity: With minimum resources, aluminum can be melted down again any number of times without quality losses and used for new applications. Dr. Martin Iffert, CEO of TRIMET Aluminium SE The transport sector is therefore one of the most important growth and innova- tion drivers in the aluminum industry. More stringent climate protection require- ments are advancing the lightweight construction of vehicles and opening up new application fields for aluminum. Electric drives are the future of mobility. With a heavy battery unit, lightweight engineering is a key success factor in e-mobility’s popularity. Aluminum is the material of choice here: for battery casings – but also for structural and bodywork components and other parts. Its share in the automotive material mix will continue to increase. Innovative products can only be created by using innovative materials. Therefore, it will remain important in the future to develop and manufacture aluminum alloys in Germany. In addition to modern plants, employee expertise and qualifications are decisive for ensuring sustainable and successful value creation in Europe as an industrial location. This is particularly true when it comes to the foreseeable developments in digitization and demography. TRIMET relies on the quality of its workforce. Not only do we formally instruct many young people in various training professions each year, we also ensure the continuous training of our employees and grant them a large scope of responsibility. They repay the company for this freedom with exceptional commitment and many clever ideas that support process optimization. Thanks to a structured use of Kaizen methods, we are increasingly able to exploit this potential across all locations. In this way, many improvements are based on considerable efficiency enhancements arising out of employee initiatives. I would like to take this opportunity to thank our employees for their outstanding commitment and dedication. TRIMET ALUMINIUM SE – AT A GLANCE 2016/17 7 At TRIMET, promoting and encouraging employees means granting them the freedom to implement their own ideas and thus determine their own career paths. We prefer to recruit executives and experts from our own pool of young talent. In the TRIMET Academy, we systematically promote young employees who have shown potential for future management positions. This not only includes tailored supplementary qualifications, but also mentoring and further academic training. We offer them clear career perspectives in this way, ensuring their long-term loyalty. TRIMET stands by Germany and Europe as industrial locations. Industrial produc- tion plays a significant role in safeguarding the level of prosperity and also protects society from social upheavals. Industrial work also offers opportunities for inte- gration, societal participation, and social advancement. We would like to take advantage of this integrative force. As the legacy of Heinz-Peter Schlüter, entrepre- neurial responsibility for the company’s workforce is firmly anchored in TRIMET’s DNA. It is a key reason for the high level of identification that our employees show to the company and guarantees our economic success. This social conscience also led our founder to organize a refugee initiative that now offers 66 refugees training and professional prospects at TRIMET. We plan and act for the long term. That is why, as with all junior staff, we look far beyond the end of the training period. Our goal is to turn apprentices into new employees. For TRIMET continues to focus on sustainable growth. Dr. Martin Iffert CEO of TRIMET Aluminium SE 8 TRIMET ALUMINIUM SE – AT A GLANCE 2016/17 9 10 10 YEARS OF TRIMET HAMBURG Richard Meier | 10 YEARS OF TRIMET HAMBURG Director of Electrolysis INDUSTRIAL LOCATION AT THE GATEWAY TO THE WORLD The aluminum smelter in Hamburg is one of four locations in which TRIMET produces primary aluminum. This location has been part of the TRIMET family for ten years. Some 340 employees annually produce 133,000 tons of aluminum and up to 120,000 tons of carbon anodes for the electrolysis process here. The plant at the port in Finkenwerder has helped shape the recent industrial history of the Hanseatic city and will continue to shape its future. The history of the site began more than 40 years ago. In the early 1970s, the industrial region of the Hamburg metropolitan area expe- rienced a major boost. In Stade, 30 kilometers west of the Hanseatic city, a large power station was connected to the grid. A chemical plant in the neighborhood produced sodium hydroxide as a by-product. This compound is needed to obtain aluminum oxide from bauxite. For this reason, Vereinigte Aluminiumwerke AG (VAW) and Reynolds, an I have been with TRIMET Hamburg American company, constructed a production site for this raw material since May 2012. Since 2015, I have been the Director of Electrolysis. The upbeat used in aluminum production directly next to the chemical plant. The mood of 2007 still characterizes the Reynolds Metal Company was already firmly established in Germany working atmosphere at our location, with a production plant in North Rhine-Westphalia. Now the world’s and can be felt in the daily work routine here. Many colleagues who faced the third-largest aluminum producer wanted to build an aluminum smelter closure of their workplace more than ten with connected rolling mill in the booming northern region.