In the first nine months of the business year 2015/16, the voestalpine Group’s operating result (EBITDA) saw an 11.1% gain, going from EUR 1.09 billion in the previous year to EUR 1.2 billion in the period under review. As a result, the EBITDA margin went up to 14.4 % (13.2% in the previous year). Even excluding non-recurring effects, there is a gain in EBITDA of 4.8% from EUR 1.02 billion to EUR 1.07 billion, which corresponds to an EBITDA margin of 12.8% (previous year: 12.4%). Profit from operations (EBIT) rose from EUR 627 million to EUR 727 million (+15.9%). The EBIT margin is 8.7% in the period under review compared with 7.6% in the previous year. Adjusted for non-recurring effects, EBIT is still at EUR 608 million, which corresponds to an improvement of 4.5% compared with the previous year’s figure of EUR 582 million (EBIT margin in the period under review is 7.3% compared with 7.0% in the previous year).
Profit before tax and profit for the period also saw this positive trend. Profit before tax rose by 18.8%, going from EUR 529 million to EUR 629 million. Even adjusted, the increase is still at 5.3%, going from EUR 484 million to EUR 510 million. Profit for the period was EUR 509 million, a gain of 17.6% (previous year: EUR 433 million). Adjusted profit for the period decreased slightly by 1.6% due to a higher tax rate in the current business year, going from EUR 389 million to EUR 383 million. Equity increased by 11.5% in a year-to-year comparison to EUR 5.6 billion. In addition to the gratifying earnings trend, the first-time full consolidation of the companies in the Metal Engineering Division mentioned earlier also contributed to this rise as did the capital increase of 1.45% of share capital slated to be used for the continuing development of the employee shareholding program.
In a year-to-year comparison, net financial debt rose much more modestly by only 3.5%, going from EUR 3.1 billion to EUR 3.2 billion so that the gearing ratio (net financial debt in percent of equity) was further reduced both in a year-over-year comparison (from 61.4% to 57% in the period under review) and compared with the reporting date of March 31, 2015 (58.4%) despite record investment expenditures of EUR 937 million during the last three quarters of the business year 2015/16 (previous year: EUR 747 million). As of the reporting date of December 31, 2015, the voestalpine Group had 47,900 employees (FTE), a plus of 3.1%.
* Presentation of the earnings for the first three quarters of 2014/15 and 2015/16 in the following, both including and excluding non-recurring effects