Financial key performance indicators

The performance of the Metal Forming Division in the business year 2021/22 was very good, both in terms of revenue and the operating result (EBITDA). This is remarkable, not least due to the challenging conditions facing the Automotive Components business unit. Accordingly, the division’s other three business segments—Tubes & Sections, Precision Strip as well as Warehouse & Rack Solutions—largely drove its significant upward trend. The fact that the fallout from COVID-19 in the reporting period was milder than in the previous business year accounts in part for the substantial year-over-year increase. On the whole, the Metal Forming Division boosted revenue in the business year 2021/22 by 36.0% to EUR 3,474.4 million (2020/21: EUR 2,553.9 million). It benefited from excellent pricing across all four business units thanks to its ability to pass on high pre-materials costs. The division also posted extraordinary growth in its operating result (EBITDA) for the business year 2021/22, which jumped by 58.2% to EUR 433.1 million with a margin of 12.5% (2020/21: EUR 273.8 million, margin of 10.7%). With the exception of Automotive Components, all business segments boasted high capacity utilization at their production plants. EBIT soared year over year by 78.1%, from EUR 124.0 million (margin of 4.9%) to EUR 220.8 million (margin of 6.4%). Note that a total of EUR 64 million in impairment losses at voestalpine Auto­motive Components Cartersville had a negative impact on EBIT, whereas EUR 12 million in reversals of impairment losses had a positive effect.

The division’s quarter-on-quarter (QoQ) performance during the business year 2021/22 was positive as well. Three of its four business segments posted revenue growth from the third to the fourth quarter, and the revenue of Warehouse & Rack Solutions remained stable at a high level. The growth in the business volume is chiefly due to the ability of the division’s units, particularly Automotive Components and Tubes & Sections, to pass on dramatic increases in input material costs. Against this backdrop, the division’s revenue for the fourth quarter rose by 22.1% to EUR 1,020.9 million (Q3 2021/22: EUR 836.4 million). Earnings present a similar picture. Highly satisfactory volume and price growth—albeit subject to high input material costs—drove the marked increase in EBITDA in the fourth business quarter by 70.4% to EUR 152.5 million (Q3 2021/22: EUR 89.5 million). The EBITDA margin thus climbed from 10.7% to 14.9%. EBIT declined slightly by 2.3% to EUR 50.8 million with a margin of 5.0% (Q3 2021/22: EUR 52.0 million, margin of 6.2%). As stated in the year-over-year comparison, EUR 64 million in impairment losses and EUR 12 million in reversals of impairment losses were taken in the reporting period’s fourth quarter.

At 11,766, the number of employees (FTE) in the Metal Forming Division as of March 31, 2022, was 2.1% higher than the previous business year’s figure (11,525). This increase reflects the improved economic environment and growing capacity utilization at the division’s production plants, in turn requiring personnel adjustments.