voestalpine with solid results in the first half of 2026/27

• Revenue at previous year's level of EUR 7.7 billion (H1 2025/26: EUR 7.6 billion)
• EBITDA rises to EUR 846 million (previous year: EUR 722 million)
• EBIT increases to EUR 470 million (+36%; previous year: EUR 345 million)
• Earnings (EBITDA/EBIT) impacted by positive one-off effects of around EUR 100 million
• Profit before tax of EUR 408 million and profit after tax of EUR 290 million, each up 46% year over year
• Positive free cash flow despite high investment activity
• greentec steel on schedule and on budget, start-up in the first half of calendar year 2027
• Number of employees (FTEs) down 2% to 48,616
• Outlook for 2026/27 forecasts EBITDA of between EUR 1.6 billion and EUR 1.7 billion

voestalpine delivered solid results in the first half of the business year 2026/27 (April 1 to September 30, 2026). The Group's clear focus on quality, innovation, and efficiency, together with its broad diversification across industries and regions, once again proved to be a key strength in an environment characterized by considerable uncertainty.

The positive trend in the Railway Systems business segment continued in the first half of the year, supported by numerous infrastructure projects in Europe and international railway projects. The aerospace segment also continued to perform successfully, with its high-quality products in demand from both the European and North American aerospace industries. In the automotive industry, the Steel Division maintained its strong market position and recorded generally satisfactory demand in the first half of 2026/27. By contrast, the Automotive Components business unit of the Metal Forming Division continued to face challenging conditions in the automotive industry in Europe, as well as in China and North America. Demand from the construction, mechanical engineering, and consumer goods industries remained subdued overall. In the energy sector, geopolitical developments in the Middle East led to project postponements and increased market uncertainty. The Warehouse technology segment, meanwhile, maintained its strong performance in the first half of 2026/27.

In the first half of 2026/27, the Group continued to reorganize business units affected by structural change. As previously reported, these measures primarily concern the Automotive Components business unit, with the aim of securing the long-term future of the Metal Forming Division’s automotive supplier business. The reorganization measures also extend to the High Performance Metals Division, which is focusing its product portfolio on the technologically demanding segment of high-performance materials. The reorganization measures are now almost complete, and those already implemented are increasingly delivering positive results.

With greentec steel, voestalpine has a clear strategy and is implementing it consistently. As a first step, the electric arc furnaces (EAFs) in Linz and Donawitz will begin operating in the first half of 2027. Both projects are on schedule and on budget. The core equipment for the EAFs has arrived, and the individual components are now being assembled on site,finely adjusted, and integrated into a fully operational plant.. Cold commissioning will then begin in some areas. This involves testing conveyor systems, hydraulic systems, electrical installations, cooling circuits, and automation systems.

The voestalpine Group’s revenue remained virtually unchanged at EUR 7.7 billion (+0.8%) in the first half of 2026/27 compared with the same period of the previous year. Operating result (EBITDA) rose by 17.1% to EUR 846 million. Alongside the sustained benefits of the cost-cutting and efficiency improvement programs initiated, earnings in the first half of 2026/27 reflected positive and negative one-off effects in the High Performance Metals Division totaling around EUR 100 million, particularly from the sale of voestalpine BÖHLER Profil.

Operating profit (EBIT) increased by 36% year over year to EUR 470 million. Profit before tax rose by 46.5% to EUR 408 million, while profit after tax amounted to EUR 290 million (+46.1%). Free cash flow amounted to EUR 24 million in the first half of 2026/27, including a one-off effect of approximately EUR 150 million from the sale of voestalpine BÖHLER Profil.

The voestalpine Group's equity amounted to EUR 8 billion, an increase both year over year and compared with the balance sheet date of March 31, 2026 (year over year: +6.6%; since March 31, 2026: +2.9%). Net financial debt decreased by 5.3% year over year to EUR 1.4 billion as of September 30, 2026. Compared with EUR 1.3 billion at the balance sheet date (March 31, 2026), net financial debt increased by 10.2%, primarily due to the dividend payment to voestalpine AG shareholders. The gearing ratio (net financial debt as a percentage of equity) decreased further to 17.3%.

As of September 30, 2026, the voestalpine Group employed 48,616 people worldwide (full-time equivalents), down 2.0% from the previous year (49,614). The decrease was primarily attributable to the reorganization measures in the High Performance Metals Division and the Automotive Components business unit of the Metal Forming Division.

The Management Board of voestalpine AG remains optimistic about the Group’s future development and continues to expect solid EBITDA above the previous year’s level for the business year 2026/27.

The longer-than-expected war in the Middle East and its associated consequences are putting particular pressure on energy and logistics costs. In addition, energy projects in the crisis region continue to be postponed. Logistical challenges and additional temporary US tariffs are also adversely affecting earnings potential in the second half of the year.

Against this backdrop, the EBITDA forecast for the business year 2026/27 has been revised to EUR 1.60 billion to EUR 1.70 billion (previously: EUR 1.60 billion to EUR 1.85 billion). This corresponds to expected EBIT in the range of EUR 830 million to EUR 930 million. The EBITDA and EBIT forecasts include net positive one-off effects of around EUR 100 million recognized in the first quarter of 2026/27.