With an EBITDA of EUR 730 million and EBIT of EUR 441 million based on almost stable revenues in the first half of 2012/13 voestalpine is well on track to repeat the (adjusted) earnings figures of the business year 2011/12. Nevertheless due to fast growing economic uncertainties in recent weeks the management board cuts the earnings forecast for the full business year by EUR 100 million in comparison with the original guidance. Therefore from todays point of view the board expects for the business year 2012/13 an operating profit (EBITDA) of approximately EUR 1.4 billion and a profit from operations (EBIT) of about EUR 800 million (instead of originally EUR 1.5 billion resp. EUR 900 million).
6-11-2012 — /europawire.eu/ — Reasons: Further increase of the sustained negative global business environment since summer 2011 regarding almost all key industrial segments and important economic regions – so far less impacted sectors like automotive, mechanical engineering and energy industries currently under pressure on a broad scale – only few market segments like aviation industry and agricultural machine building still facing stable business conditions.
Unchanged solid earnings situation of voestalpine-group within this difficult sentiment due to technology and quality driven niche position – nearly stable revenues and only slightly declining operational earnings development from 1st to 2nd quarter, somewhat more significant decline compared to the (outstanding) 1st half of 2011/12 – EBITDA-margin continuously in the double-digit range (see chart), clearly positive Free Cash Flow resulting in a further deleveraging in the course of the 1st half of 2012/13 despite dividend payment in the summer quarter.
Details on the 1st half year 2012/13 to follow on November, 7th 2012 before opening of the Vienna stock exchange.
Key figures of voestalpine Group
The voestalpine Group
The voestalpine Group is a globally active corporation with a variety of specialized and flexible companies which produce, process, and further develop high-quality steel products. The Group is represented by 400 production and sales companies in more than 60 countries on five continents; it has been listed on the Vienna Stock Exchange since 1995.
With its highest-quality flat steel products, the Group is one of the leading partners to the European automotive and white goods industry, and the oil and gas industries worldwide. Furthermore, the voestalpine Group is the world market leader in turnout technology, tool steel and special sections. In the 2011/12 business year, the Group generated revenues of more than EUR 12 billion, and achieved an operating result (EBIT) of EUR 704 million. The Group has around 46,500 employees worldwide.