Revenue of the voestalpine Group
In millions of euros
As the analysis of the voestalpine Group’s revenue performance during the reporting period shows, the negative ramifications of the COVID-19 pandemic impacted the business year 2020/21 the most early on. The meltdown in revenue during the first quarter resulted directly from the measures that were put in place worldwide to contain the pandemic. Both the Steel Division and the Metal Forming Division were those of the Group’s units that had to contend with the biggest revenue declines during this phase because they focus the most on the automotive industry— the Group’s customer segment that was hit the hardest. Yet these two divisions also delivered the strongest recovery within the voestalpine Group in subsequent quarters. The High Performance Metals Division posted the highest decline in revenue for the business year on the whole because it is exposed the most to the structural weaknesses of both the energy sector and the aerospace industry. Although a pronounced rebound followed the extremely difficult conditions in the reporting period’s first quarter, year over year the voestalpine Group’s revenue for the business year 2020/21 fell by 11.4% to EUR 11,266.6 million (2019/20: EUR 12,717.2 million).
