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Adhoc-news: voestalpine below market expectation in the third business quarter due to special items, adjustment of earnings expectation for business year 2018/19

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16 January 2019 | 

The preliminary earnings figures for the first nine months of the business year 2018/19 with an EBITDA of around EUR 1.1 billion and an EBIT of around EUR 525 million are below market expectations.

This is due, on the one hand, to a significantly higher impact on earnings from the ramp-up of automotive activities in voestalpine Automotive Components Cartersville, USA, as well as related one-off effects from provisions due to external transfers of orders. In addition, a provision was necessary for possible adverse effects on the net assets, financial position and results of operations of the voestalpine Group in connection with a pending investigation by the German Federal Cartel Office against steel producers on suspicion of anti competitive practices in the past in the market for heavy plates (see also the ad-hoc release of 12 September 2017).

Due to lower earnings for the first nine months and a further expected economic slowdown in the last fiscal quarter, the Management Board of voestalpine adjusted the earnings forecast for the full business year 2018/19 and as of now expects an EBITDA of approximately EUR 1.55 billion and an EBIT of approximately EUR 750 million.

The figures given are preliminary and unaudited.

The voestalpine Group

In its business segments, voestalpine is a globally leading technology group with a unique combination of material and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions using steel and other metals, it is one of the leading partners to the automotive and consumer goods industries in Europe as well as to the aerospace and oil & gas industries worldwide. voestalpine is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2017/18, the Group generated revenue of around EUR 13 billion, with an operating result (EBITDA) of almost EUR 2 billion; it has around 51,600 employees worldwide.