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Ad-Hoc News regarding FY 2011/12

30 May 2012 | 

voestalpine reports record sales of EUR 12.1 billion despite difficult economic environment in FY 2011/12 – Earnings affected by one-offs 

voestalpine’s FY 2011/12 was macroeconomically characterized by an intensification of the souvereign debt crisis in Europe and a slow down of the economic dynamics of China and Brazil but also by positive developments in the USA.
Despite this volatile economic environment, the downstream oriented Divisions were able to keep their business performance largely stable, whereas the Steel Division developed significantly weaker due to the difficult situation of the European steel industry.
Nonetheless voestalpine Group was able to reach new record sales of EUR 12.1 billion. The results were affected by one-offs of EUR 205 million from the railways business, leading to considerably lower levels of all earnings categories compared to last year. By not taking these one-off effects into account, a relatively stable earnings performance can be shown in the light of the difficult economic environment: EBITDA excluding one-offs: EUR 1,506.9 million (previous year: EUR 1,605.6 million), EBIT excluding one-offs: EUR 909.2 million (previous year: EUR 984,8 million).
The reduction of debt levels was successfully prolonged: Gearing ratio (net debt to equity) was reduced to 53.5% per 31st March 2012 (previous year: 57.8 %).
From today’s point of view, based on voestalpine’s strengths resulting from its downstream activities, operating results for FY 2012/13 should be achievable on similar levels like in FY 2011/12, despite the challenging environment in the steel segment.
Dividend: EUR 0.80 per share, proposal to AGM

Key Figures of voestalpine Group

 

(acc. IFRS;
in EURm)*
FY 2010/11
1.04.10 - 31.03.2011
FY  2011/12
1.04.11 - 31.03.2012
Change
in %
Revenue 10,953.7 12,058.2 10.1
EBITDA 1,605.6 1,301.9 -18.9
EBITDA margin in % 14.7 10.8  
EBIT 984.8 704.2 -28.5
EBITmargin in % 9.0 5.8  
Profit before tax 781.0 504.4 -35.4
Profit for the period** 594.6 413.3 -30.5
EPS (in EUR) 3.04 1.98  
Gearing ratio in % 57.8 53.5  

 * According to IFRS all results after Purchase Price Allocation (PPA)
** Before minority interest and hybrid capital interest