Net financial debt – Equity – Gearing ratio
In millions of euros
The voestalpine Group has been able to continuously reduce its net financial debt in recent years. In the current reporting period, the Group succeeded in keeping the debt ratio stable at a low level despite accelerated investment activity. Specifically, net financial debt decreased from EUR 1,661.0 million as of March 31, 2023 to EUR 1,650.8 million as of March 31, 2024, creating a solid basis for the Group’s further growth and the transformation of steel production. By contrast, the voestalpine Group’s equity weakened slightly in a year-on-year comparison. In particular, the negative one-off effects in the form of impairment losses in the business year 2023/24 had an impact. Compared to the reporting date of March 31, 2023 (EUR 7,686.4 million), equity decreased slightly by 2.4% to EUR 7,499.6 million as of March 31, 2024. It should be noted that equity as of March 31, 2023 was adjusted retrospectively from EUR 7,769.4 million to EUR 7,686.4 million. Despite the slight decrease in equity in the current reporting period, the gearing ratio (net financial debt as a percentage of equity) remained virtually unchanged compared to the previous year at 22.0% as of March 31, 2024 (March 31, 2023: 21.6%).
Net financial debt can be broken down as follows:
In millions of euros |
|
03/31/2023 |
|
03/31/2024 |
|---|---|---|---|---|
|
|
|
|
|
Financial liabilities, non-current |
|
2,242.2 |
|
1,459.7 |
Financial liabilities, current |
|
836.6 |
|
1,688.0 |
Cash and cash equivalents |
|
–1,055.8 |
|
–1,322.1 |
Other financial assets |
|
–341.3 |
|
–158.2 |
Loans and other receivables from financing |
|
–20.7 |
|
–20.4 |
Net financial debt from disposal groups |
|
0.0 |
|
3.8 |
Net financial debt |
|
1,661.0 |
|
1,650.8 |
