Debt Investor Relations

You will find important current information in the section Ad-Hoc News. In the following, you will find a brief presentation about the strategy and basic principles of our financing activity and about our liquidity management. We are also providing a factsheet with the information necessary for debt investors, a table that provides the history of our key financial indicators as well as information about our outstanding bonds.

Finance strategy

The main focus of our finance strategy is a solid capital structure that provides the basis for the continuing growth of voestalpine as well as ensuring the availability of adequate liquidity throughout the entire Group. The objective of our financial management is to always have investment-grade status. The financial ratios Net Debt/Equity and Net Debt/EBITDA are key indicators for the management of our capital structure.

Ensuring liquidity

A liquidity reserve is maintained to ensure the consistent availability of liquidity. This reserve is comprised of short-term marketable financial assets (cash, securities, etc.) and undrawn committed credit lines. Our objective is to keep a liquidity reserve that is large enough to cover the planned financing requirements for the entire Group for the coming twelve months.

Financing principles

  • Financial unity and central financing
    voestalpine AG sees itself as a “financial unit.” Thus, voestalpine makes its excellent creditworthiness available to every Group entity. This approach leads to the principle of central external financing and the subsequent transmission of cash and cash equivalents to the individual companies of the Group. Decentralized financing is initiated only if the relevant tax or exchange control regulations make this necessary or expedient.                                                                                                                                                                                            
  • Banking policy – Relationship principle
    The banking policy of voestalpine is based on establishing long-term business relationships. Close attention is paid to ensure that the right balance is achieved between contracts that are awarded and financing commitments. Nevertheless, whenever contracts are awarded, there must be competition between the providers in order to ensure a competitive price.
     
  • Diversification of financing
    In order to ensure financial independence, voestalpine AG diversifies its financing by using a broad range of financing instruments and partners.
     
  • Rating
    voestalpine AG has currently not been rated and is not pursuing an external rating at this time. However, it is the objective of the Group’s financial management to always have investment-grade status.