Business performance of the voestalpine Group1,2

In the business year 2010/11, the voestalpine Group not only increased revenue and operating result significantly compared to the previous year, but in the fourth quarter of 2010/11, the result of the immediately preceding quarter was exceeded for the seventh consecutive time. This gratifying development was driven by the economic momentum that grew throughout the year and the almost 100% utilization of the Group’s production capacity; it was additionally facilitated by the effects of the efficiency improvement and cost optimization programs that are in place Group-wide.

1 In accordance with IFRS, all figures after application of the purchase price allocation (ppa).

2 As of April 1, 2010, the new organizational structure of the voestalpine Group came into effect. The precision strip and welding consumables business segments, which had previously been part of the Special Steel Division, were reassigned to the Profilform Division and the Railway Systems Division, respectively. In order to enable a better means of comparison, the divisional figures for the relevant quarter of the previous year were adjusted accordingly; the Group’s figures remained unchanged.

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