The health of our employees is of paramount importance to voestalpine. The company started taking measures appropriate to the situation immediately following the emergence of the coronavirus in China, drawing up recommended courses of action for its employees, suppliers, and partners. These are reassessed and adjusted on an ongoing basis. Furthermore, a broad range of communication measures ensure that the global workforce is supplied with comprehensive information which is updated daily. All measures are closely coordinated with the public authorities, and comply with the current regulations.
voestalpine is in constant communication with the authorities and works council, and is assessing the situation on a daily basis. All the relevant Group units are represented on a Corona Task Force which is in constant coordination with the Chairman of the Management Board of voestalpine AG.
COVID-19 pandemic negatively impacts voestalpine results for the past business year 2019/20
The COVID-19 pandemic negatively impacts operating result (EBITDA & EBIT) for the past business year 2019/20 by around EUR 40 million. The Outlook for BY 2019/20: Operating result (EBITDA) at over EUR 1.1 billion, profit from operations (EBIT) will be negative at around – EUR 135 million.
Coronavirus pandemic has a significant economic impact on voestalpine and its customers: Short-time work in Austria and other European countries unavoidable
March 23, 2020: The coronavirus pandemic and its consequences are facing voestalpine with major economic challenges. As a result of massive reductions in capacity and current production shutdowns in the automotive, aerospace, mechanical engineering, and oil & natural gas industries, in just a few days demand in the key voestalpine customer segments has collapsed. In order meet the required level of flexibility over the next weeks and to secure jobs at the Group as far as possible during this difficult situation, short-time work was registered in around 50 European Group companies (in Austria as well as in Germany, Belgium, and France).