Development of the key figures
of the voestalpine Group

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

At EUR 4,445.7 million, the voestalpine Group’s revenue in the first quarter of 2023/24 weakened slightly year on year (first quarter of previous year: EUR 4,645.4 million). While the Metal Engineering Division benefited from the strong momentum in the oil and natural gas industry and in railway infrastructure, revenue in the other three divisions was below the high level of the previous year. In the Steel Division, the price level declined after the distortions in the previous year in the wake of the Ukraine war. In the High Performance Metals Division, falling shipment volumes led to a decline in revenue. Measured against the historically best operating result achieved by the voestalpine Group in the same quarter of the previous year, the decline in the operating result (EBITDA) was significant and fell by 42.6% to EUR 504.5 million in the first quarter of 2023/24 with a margin of 11.3% (Q1 2022/23: EUR 879.1 million; margin of 18.9%). In the same period, the profit from operations (EBIT) weakened by 54.4% to EUR 316.2 million with a margin of 7.1% (Q1 2022/23: EUR 692.7 million; margin of 14.9%). Profit before tax also declined by a similar amount, falling by 58.5% to EUR 278.4 million (Q1 2022/23: EUR 670.3 million). With a tax rate of 21.0% (previous year: 21.9%), profit after tax fell by 64.5% to EUR 218.2 million (Q1 2022/23: EUR 614.5 million).

The voestalpine Group’s equity increased further in the first quarter of 2023/24. As of June 30, 2023, it amounted to EUR 7,912.9 million and was thus 3.2% higher than the value of EUR 7,669.5 million on the reporting date of the previous year. Compared to the balance sheet date of March 31, 2023 (EUR 7,769.4 million), equity increased by 1.8%. Net financial debt decreased by 15.2% year-on-year from EUR 2,282.2 million as of June 30, 2022, to EUR 1,935.0 million as of June 30, 2023. Compared to the balance sheet date (EUR 1,661.0 million), however, net financial debt increased by 16.5%. The gearing ratio (net financial debt as a percentage of equity) improved year on year from 29.8% as of June 30, 2022, to 24.5% as of June 30, 2023. Compared to the balance sheet date (21.4%), however, the gearing ratio increased slightly.

The number of employees full-time equivalents, FTE) in the voestalpine Group increased by 2.5% year on year to 51,164 as of June 30, 2023 (Q1 2022/23: 49,900). Compared to the reporting date of March 31, 2023 (51,202), the number of employees remained almost constant. 

Net financial debt can be broken down as follows: