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Highlights 2015/16

  • Global economic environment very challenging: Europe in a moderate upward trend, but with major regional differences; dwindling momentum in North America; Brazil and Russia in a deep recession; lower growth in China due to massive structural changes; India begins economic catch-up process
  • Cooling of economy and overcapacity in commodities (especially steel) in China results in a glut of cheap exports, which, in turn, causes global price pressure
  • Deterioration of raw materials prices (including crude oil and iron ore) continues
  • By concentrating on technologically sophisticated market segments, voestalpine experiences largely stable performance despite the precarious environment
  • Positive non-recurring effects in annual results for 2015/16 due to first-time consolidation of companies belonging to the Metal Engineering Division, which had previously been consolidated at equity, as of the beginning of the business year 2015/16 (comparative period of the previous year also positively affected by non-recurring divestment proceeds)
  • voestalpine Group posts relatively stable revenue with increases in all reporting categories; adjusted for non-recurring effects, figures slightly down in a year-to-year comparison
  • At EUR 11,069 million, Group’s revenue virtually unchanged compared to the previous year’s figure of EUR 11,190 million (–1.1%)
  • In a year-over-year comparison, EBITDA up by 3.5% from EUR 1,530 million to EUR 1,583 million; excluding non-recurring effects at EUR 1,446 million, just below the previous year’s figure of 1,468 million (–1.5%)
  • EBIT improves marginally by 0.3% from EUR 886 million to EUR 889 million (excluding non-recurring effects, slight decline of 3.2% from EUR 841 million to EUR 814 million)
  • EBITDA and EBIT margins (excluding non-recurring effects) virtually stable (EBITDA margin unchanged at 13.1%, EBIT margin decreases minimally from 7.5% to 7.4%)
  • Profit before tax improves by 1.7% from EUR 739 million to EUR 751 million (excluding non-recurring effects, decline of 2.5% from EUR 694 million to EUR 677 million)
  • Profit after tax up by 1.2%, going from EUR 595 million in the previous year to EUR 602 million (excluding non-recurring effects, a decrease of 7.7% from EUR 553 million to EUR 510 million)
  • Positive free cash flow (before dividend) despite record investment expenditure of EUR 1.3 billion
  • Equity up by 10.5% to EUR 5.7 billion with an increase of net financial debt of only 3.4% to EUR 3.1 billion; gearing ratio (net financial debt in percent of equity) down in a year-to-year comparison from 58.2% to 54.5%
  • Dividend proposed to the Annual General Shareholders’ Meeting: EUR 1.05 per share, increase of EUR 0.05 compared to previous year (EUR 1.00 per share)
  • Construction of the direct reduction plant in Corpus Christi, Texas, USA, for the production of high-quality HBI (hot briquetted iron/sponge iron) in its final phase
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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.

Facts

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

Earnings FY 2015/16

€ 11.1 Billion

Revenue

€ 1.6 Billion

EBITDA

www.voestalpine.com
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