COVID-19 pandemic
The COVID-19 pandemic may cause individual jurisdictions to take a variety of statutory steps that would affect production parameters and the ability of voestalpine AG’s subsidiaries to act in a commercial capacity.
Energy tax rebate in Austria
As regards the Austrian energy tax rebate, the decision of the European Court of Justice (ECJ) dated November 14, 2019 (ECJ 11/14/2019, docket no. C-585/17, Dilly’s Wellnesshotel II) established that the limitation to manufacturing companies imposed by the BBG 2011 was put in place in ways consonant with European Union law. In its subsequent ruling dated December 18, 2019 (docket no. Ro 2016/15/0041), the Austrian Higher Administrative Court followed the ECJ’s holding. The voestalpine Group did not suffer any adverse effects from the Higher Administrative Court’s ruling, which concludes the case.
