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Gearing ratio

Net financial debtEquityGearing ratio

In millions of euros

Net financial debt – Equity – Gearing ratio (bar chart)

Despite record investment of more than EUR 1.3 billion in the business year 2015/16—due to largely finalizing important future-oriented projects—which resulted in a commensurate cash outflow, the gearing ratio (net financial debt in percent of equity) of 58.2% as of March 31, 2015 was reduced to 54.5% as of March 31, 2016. This trend shows that the high-tech/high-quality growth strategy that the voestalpine Group has been pursuing for many years is not mutually exclusive with sound financial management despite its high level of investment. The most significant factor was stable and solid development of earnings that made an increase of the equity base by a healthy 10.5% from EUR 5,115.0 million at the end of the business year 2014/15 to EUR 5,651.6 million as of the end of the business year 2015/16 possible. Despite the massive expansion in investment activity in the past twelve months, net financial debt rose only slightly by 3.4% from EUR 2,978.1 million as of March 31, 2015 to EUR 3,079.9 million as of March 31, 2016.

About voestalpine

The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide.


50 Countries on all 5 continents
500 Group companies and locations
48,500 Employees worldwide

Earnings FY 2015/16

€ 11.1 Billion


€ 1.6 Billion


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