The voestalpine AG operating result (EBITDA) and profit from operations (EBIT) during the third quarter of the current business year were slightly below the expectations we had in fall 2016, primarily due to the negative short-term effects of developments in raw materials prices toward the end of the year and a slower recovery of prices in the oil and gas sector.
For the fourth quarter of the business year, we expect a significant growth in earnings compared to the third quarter as a result of stabilizing raw materials prices (at least temporarily), as well as slow but continual improvements in the oil and gas sector, and increased steel contract prices becoming effective at the beginning of 2017.
In view of the above, the outlook for the business year 2016/17 as a whole continues to remain in line with the expectations expressed at the end of the first half of the business year 2016/17 (September 30, 2016): The goal is still an (adjusted) operating result (EBITDA) at the level of the previous year (EUR 1.45 billion), and an (adjusted) profit from operations (EBIT) close to the level of the past business year (EUR 814 million).
EBITDA – Quarterly performance of the voestalpine Group
EBIT – Quarterly performance of the voestalpine Group
* This report is a translation of the original report in German, which is solely valid.