Effects on the Group’s Semi-annual Performance and Liquidity
Worldwide and macroeconomically, catch-up effects related to the rebound from the COVID-19 pandemic characterized the first half of the business year 2021/22. The economic climate stabilized at a high level over the course of the reporting period. In this environment, the voestalpine Group harnessed the positive upward trend to its advantage, with the result that almost all of its business segments show signs of a noticeable recovery. The Automotive Components segment is the only one whose performance was a bit restrained, especially due to supply chain distortions affecting semiconductors for electronic components. The liquidity position as of September 30, 2021, was highly positive, with the result that in October 2021 voestalpine redeemed the corporate bond 2014–2021 using own funds.
As of September 30, 2021, short time work was still in effect on a small scale at a few facilities in Germany. Deferrals of social security contributions, non-wage costs, and taxes that both domestic and foreign subsidiaries utilized in the business year 2020/21 were already settled in large part as of March 31, 2021.
Effects on Uncertainties in Accounting Estimates and Assumptions
The potential effects of the COVID-19 pandemic discussed in the Consolidated Financial Statements as of March 31, 2021, on uncertainties in accounting estimates and assumptions were repeatedly reviewed during the preparation of the present Interim Consolidated Financial Statements; they remain valid.