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In the last months, the macroeconomic environment has significantly deteriorated.
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Sovereign debt discussion and weakening of growth momentum dominate economic mood.
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Broadly-based customer behavior marked by caution and a wait-and-see attitude.
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Nevertheless, the capacity of the voestalpine Group continues to be fully utilized in all major business segments, including the Steel Division.
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Despite significantly more difficult framework conditions, at EUR 3,050.6 million, revenue in the first quarter stable compared to the previous year (EUR 3,051.5 million).
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Due to the marked economic downturn, operating results decline:
EBITDA –19.0% from EUR 462.9 million to EUR 375.0 million,
EBIT –27.4% from EUR 317.6 million to EUR 230.7 million.
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At EUR 144.9 million, net income 30.9% lower than in the previous year (EUR 209.6 million).
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After EUR –62.3 million in the first quarter of the previous year, free cash flow now clearly positive at EUR 92.2 million.
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Compared to March 31, 2012, equity increases from EUR 4,836 million to EUR 4,981 million.
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Net financial debt decreases by 4% from EUR 2,586 million as of March 31, 2012 to EUR 2,484 million.
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Gearing ratio (net financial debt as a percentage of equity) falls compared to the end of the previous business year from 53.5% to 49.9%.
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Number of employees (full-time equivalent) rises slightly by 2% from 45,161 to 46,075 employees.
