- The high interest rates had a negative impact on economic development in Europe. Economic growth in North America remained robust. There was good economic momentum in South America, which only slowed towards the end of the business year. The Chinese economy grew by around 5% despite ongoing problems in the real estate sector.
- The voestalpine Group’s global positioning and diversified portfolio led to a good operating result in the business year 2023/24. Revenue and earnings are naturally lower compared to the record figures of the previous year.
- In an environment of falling raw material and energy costs, revenue decreased from EUR 18,225.1 million to EUR 16,684.3 million in the business year 2023/24.
- The earnings categories in the business year 2023/24 are affected by both the economic downturn and one-off effects.
- Impairment losses in the High Performance Metals Division had a negative impact of EUR 360 million on EBIT in the business year 2023/24 (of which EUR 92 million also affects EBITDA) and EUR 68 million in the Metal Forming Division.
- The previous business year 2022/23 was also influenced by non-recurring effects. EBITDA in the previous year included positive one-off effects totaling EUR 101 million. The one-off effects on EBIT amounted to EUR –72 million in the comparative period of 2022/23.
- The operating income (EBITDA) fell by around a third year-on-year to EUR 1,666.1 million (previous year: EUR 2,543.9 million).
- The profit from operations (EBIT) fell by 64.9% from EUR 1,622.8 million to EUR 569.3 million in the business year 2023/24.
- Earnings before taxes fell by 74.3% to EUR 383.4 million (previous year: EUR 1,489.4 million).
- Earnings after taxes fell by 82.4% to EUR 207.1 million (previous year: EUR 1,177.3 million).
- Equity decreased marginally by 2.4% to EUR 7,499.6 million as of March 31, 2024 (previous year’s figure of EUR 7,686.4 million adjusted retrospectively).
- Despite high investment activity, net financial debt remained stable at EUR 1,650.8 million as of March 31, 2024 compared to the previous year’s figure of EUR 1,661.0 million.
- Gearing ratio (net financial debt as a percentage of equity) stayed virtually unchanged at 22.0% as of March 31, 2024 (previous year: 21.6%).
- Dividend proposal to the Annual General Meeting: EUR 0.70 per share.
EBIT (earnings before interest and taxes)
Profit before the deduction of taxes, non-controlling interests, and financial result.
EBITDA (earnings before interest, taxes, depreciation, and amortization)
Profit before the deduction of taxes, non-controlling interests, financial result, and depreciation and amortization expenses.
Equity
Assets made available to a corporation by the owners through deposits and/or contributions or from retained profits.
Gearing
Ratio of net financial debt to equity.
Net financial debt
Interest-bearing liabilities less interest-earning assets.
