Performance in respect of the EU Taxonomy

In fiscal year 2024 / 2025, the turnover generated by taxonomy-eligible economic activities amounted to €18,056 million, which was 55% of the group’s total turnover. Compared with the prior year, this was a reduction of €1,605 million or one percentage point, mainly due to the overall decline in operations.

Taxonomy-eligible CapEx amounted to €1,073 million, which was €154 million higher year-on-year. It accounted for 72% of total capital expenditure, unchanged from a year earlier.

Taxonomy-eligible OpEx amounted to €1,304 million, accounting for 82% of total operating expenditure. Compared with the prior year, this was a decrease of €57 million or three percentage points.

In fiscal year 2024 / 2025, taxonomy-aligned turnover was €992 million after €306 million in the prior year, an increase of €686 million. The proportion of taxonomy-aligned turnover in the group’s total turnover thus tripled to 3%. The main reason for this was the successful screening procedure at sites in third countries relating to economic activity CCM 3.1 “Manufacture of renewable energy technologies” and for business activities relating to economic activity CCM 3.18 “Manufacture of automotive and mobility components.”

The taxonomy-aligned capital expenditure amounted to €130 million and, for the most part, resulted from the construction of the direct reduction plant (DR plant) in the Steel Europe segment as part of the CapEx plan and from additions to property, plant and equipment in connection with the taxonomy-aligned economic activity CCM 3.18 “Manufacture of automotive and mobility components.” Therefore, the taxonomy-aligned capital expenditure accounted for 9% of total capital expenditure. In the prior year, a negative figure of €111 million was recorded for the taxonomy-aligned capital expenditure. The reason for this negative figure was the fact that government grants in connection with the construction of the DR plant exceeded the acquisition costs incurred in the prior year, therefore resulting in a negative share of 9% in arithmetic terms.

The taxonomy-aligned operating expenditure amounted to €27 million, accounting for 2% of the group’s total operating expenditure and representing a year-on-year increase of one percentage point.

Further background information on the KPIs is presented in the tables below.