Dear customers, dear employees,

The media are reporting a healthy economic situation in Germany. Contrary to our expectations, we have also benefited from this positive trend in 2017. However, this development was not primarily due to domestic orders, but rather to orders received from customers outside Western Europe. Overall, it is evident that our international companies in the USA, Australia and China in particular have achieved above-average sales and earnings. This confirms once again that our overseas expansion has been the correct strategic approach. While it is trade and consumption that largely underpin economic growth in Germany, the capital goods industry is the main growth driver outside Europe. The JOEST group will enter 2018 with a healthy order backlog, enabling us to start the new year with a positive outlook.

We wish you and your families a successful and healthy start to 2018 and look forward to continuing our positive and constructive partnership in the New Year.