Negative non-recurring effects impacted voestalpine’s earnings figures for both the previous business year and the reporting period. In the business year 2019/20, this included impairment losses as well as a total of EUR 83 million in one-time effects that lowered EBITDA, most of them attributable to the High Performance Metals Division. In addition, the impairment losses taken in the business year 2019/20 reduced the voestalpine Group’s EBIT by EUR 402 million. While these impairment losses affected all four divisions, the Steel Division accounted for some 60% thereof.
The impairment losses of EUR 197 million recognized in the business year 2020/21 impacted EBIT mainly in the second quarter and were allocable to the following companies: voestalpine Texas (EUR 163 million), voestalpine Tubulars (EUR 25 million), and voestalpine Special Wire (EUR 9 million). The voestalpine Group’s ad-hoc notification dated October 22, 2020, announced the impairment losses on assets based on expected earnings as of the close of the business year 2020/21, which largely result from global disparities associated with the COVID-19 pandemic as well as from necessary adjustments of the Group’s medium-term earnings forecasts.