Voestalpine - good results in difficult conditions

Unstable economic trends and a recent slowdown in economic consolidation in Europe had a negative impact on the results of the Voestalpine group, an international steel company in linz in Austria.

In the first half of 2013/14 of the financial year, which ends in March, the sales of the Voestalpine group decreased by 3.5 percent from 5933 to 5724 million euros compared to the same period last year due to a decrease in goods prices. Operating profit (EBITDA) decreased by 5.2 percent. EBIT (EBIT) decreased by 8 percent and stopped at EUR 401 million euros (in the previous year: 435 million euros).

From year to year, a company producing steel, railway systems, equipment and tool steel easily maintains financial results. The profit after taxes was not least reached by changing the tax rate of up to 240 million euros, compared with 270 million euros (-11 percent). The bank’s own capital increased in the annual calculus by 3.6 percent to 5060 million euros as of September 30, 2013.

At the same time, in the first half of 2013/14 of the financial year, a positive free cash flow was observed. For comparison, net financial debt decreased by 5.1 percent. The ratio of pure debt to their own capital has significantly decreased with a 12-month comparison.

The focus of the company is technological growth in automobile and energy industries. Geographically, the emphasis is, first of all, in developing markets outside Europe.