In November 2019 the Management Board of voestalpine AG announced an investigation into the impact of the changing global economic framework conditions on the long-term positioning of all key business segments. At a Management Board meeting in Linz today, far-reaching decisions were taken based on the results of this analysis. The most recent changes in the global economy, primarily the global trade dispute, but also Europe’s continuing development as an economic region which clearly has a dwindling interest in a continuous industrial value chain, demand measures over and above purely short-term operative optimizations.
In the current business year, non-recurring effects in an amount of EUR 360 million will negatively influence the result of voestalpine AG. This charge essentially contains write-offs due to impairment of assets and is the result of the analysis of possible effects of the changed global economic conditions on the main business segments of voestalpine, announced in the last outlook.
Regarding the press release issued today by the Bundeskartellamt on the subject of the “Quarto plate cartel” voestalpine AG confirms its involvement in the stated proceedings and has consented to a settlement with the German Bundeskartellamt in which it will pay a fine of EUR 65.5 million. voestalpine became aware of the Bundeskartellamt investigation following a search of company premises in September 2017. voestalpine supported the Bundeskartellamt investigation from the start and has cooperated in full. The affected enterprises also included the Dillinger Hüttenwerke, Ilsenburger Grobblech, and thyssenkrupp Steel Europe.