Development of the key figures
of the voestalpine Group

This report is a translation of the original report in German, which is solely valid.

The key performance indicators (KPIs) of the voestalpine Group show a very good performance in the first quarter of the business year 2022/23. Especially revenue and earnings saw significant year-over-year improvements. Revenue rose by 37.7%, from EUR 3,373.9 million to EUR 4,645.4 million. All divisions kept deliveries largely stable at the previous business year’s level. Substantially higher prices thus accounted for the revenue increase resulting from the considerable rise in the cost of pre-materials, raw materials, and energy. Irrespective of sharply rising costs, the Group on the whole succeeded in lifting earnings figures to a markedly higher level by raising its sale prices. While all divisions posted improved earnings, it is thanks to the Steel Division, in particular, that the operating result for the reporting period is the voestalpine Group’s best quarterly performance ever. EBITDA of EUR 879.1 million (margin of 18.9%) for the first quarter of the business year 2022/23 is up by 68.5% from EBITDA of EUR 521.7 million (margin of 15.5%) for the same period of the previous business year. The increase in EBIT for the first quarter of 2022/23 is even more pronounced: at EUR 692.7 million, it more than doubled (Q1 2021/22: EUR 331.5 million), generating a commensurate increase in the EBIT margin for the same period to 14.9%, up from 9.8%. The profit before tax of EUR 670.3 million (Q1 2021/22: EUR 310.9 million) as well as the profit after tax of EUR 614.5 million (Q1 2021/22: EUR 259.2 million) for the first quarter of the current business year are also all-time highs.

The voestalpine Group greatly strengthened its equity, both year over year and compared with the reporting date for the business year 2021/22. Equity was EUR 7,669.5 million as of June 30, 2022, and thus 28.5% higher than the equity of EUR 5,970.8 million as of June 30, 2021. Compared with the amount as of the 2021/22 annual reporting date (EUR 7,069.3 million), however, equity rose by 8.5%. While net financial debt decreased as of June 30, 2022, (i.e., within a single year) by 12.8% to EUR 2,282.2 million (June 30, 2021: EUR 2,617.4 million), compared with the annual reporting date (March 31, 2022: EUR 2,291.2 million), it basically remained stable. In this connection, both the strong earnings performance as well as the proceeds from the sale of 80% of the Group’s stake in voestalpine Texas offset the significant increase in working capital over the reporting period. For one, the growth in working capital stems from substantially larger safety inventories of raw materials that were put in place in light of the logistically challenging environment as well as from the Group’s first-ever storage of natural gas. For another, the increases in the cost of raw materials, energy, and other input materials adversely affected working capital.

As of June 30, 2022, the number of employees (full-time equivalents, FTEs) of the voestalpine Group rose by 2.1% to 49,900 (June 30, 2021: 48,800). Compared with the number as of the March 31, 2022, reporting date (50,225), the number of employees declined by 0.6%.

Net financial debt can be broken down as follows: