If you use this site, you agree to our use of cookies. More information I accept cookies

Gearing ratio

Net financial debtEquityGearing ratio

In millions of euros

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

The gearing ratio (net financial debt in percent of equity) was 46.6% at the end of the business year 2018/19 and thus is largely stable compared with the previous year’s level of 45.7%.

While equity rose 2.4% from EUR 6,554.3 million as of the end of March 2018 to EUR 6,709.8 million as of the current reporting date (March 31, 2019), the net financial debt rose by 4.4% year over year, from EUR 2,995.1 million as of March 31, 2018, to EUR 3,125.4 million as of the close of the business year 2018/19. While negative effects resulted, for one, from the development of working capital, which was driven by a significant increase in value throughout the business year 2018/19 due to rising raw material and alloy prices, for another, investment expenditure for other intangible assets, property, plant and equipment also went up year over year, from EUR 850.2 million to EUR 1,045.7 million.

Net financial debt can be broken down as follows:

Net financial debt

In millions of euros










Financial liabilities, non-current





Financial liabilities, current





Cash and cash equivalents





Other financial assets





Loans and other receivables from financing





Net financial debt





About voestalpine

In its business segments, voestalpine is a globally leading technology group with a unique combination of materials and processing expertise. With its top-quality products and system solutions using steel and other metals, it is a leading partner of the automotive and consumer goods industries as well as of the aerospace and oil & gas industries. voestalpine is also the world market leader in complete railway systems as well as in tool steel and special sections.


50 Countries on all 5 continents
500 Group companies and locations
52,000 Employees worldwide

Earnings FY 2018/19

€ 13.6 Billion


€ 1.6 Billion


To the Top