  We evaluate the gauge invariant effective potential for the composite field
$\sigma=2\Phi^{\dagger}\Phi$ in the SU(2)-Higgs model at finite temperature.
Symmetric and broken phases correspond to the domains $\sigma\leq T^2/3$ and
$\sigma > T^2/3$, respectively. The effective potential increases very steeply
at small values of $\sigma$. Predictions for several observables, derived from
the ordinary and the gauge invariant effective potential, are compared. Good
agreement is found for the critical temperature and the jump in the order
parameter. The results for the latent heat differ significantly for large Higgs
masses.
