Key financial indicators

Heraeus closed out financial year 2008 with satisfactory results overall. The first three quarters were impacted by the real estate crisis in the USA and its fallout on global capital markets. Steep losses in the financial markets and unforeseen risks in the banking sector laid the groundwork for a rapid downturn in markets that are important for Heraeus, particularly in the fourth quarter of 2008. The electronics, steel, chemical, and semiconductor industries felt the greatest impact. However, the pharmaceutical and medical industries – for which Heraeus also manufactures products – were hardly touched by the crisis. The uncertainty permeating international markets has also caused significant fluctuation in exchange rates and extreme volatility in precious metal prices.