One-off effects

In addition to the challenging economic conditions in core European markets, structural changes became increasingly apparent in key sales markets. To address the macroeconomic challenges of the 2024/25 business year, the voestalpine Group implemented comprehensive cost-reduction programs and efficiency-enhancing measures. In addition, the management team responded proactively to the emerging structural changes by initiating the reorganization of the Automotive Components business segment. With completing the sale of Buderus Edelstahl in Q4 of 2024/25, the High Performance Metals Division is concentrating its product portfolio on the high-tech segment of special materials and reducing the production share of tool steel and engineering steel in the standard grade area. Capacity adjustments in response to changing market conditions, along with the rationalization of the product portfolio, negatively affected earnings performance in the 2024/25 business year through one-off effects. In the long term, however, these measures are expected to strengthen the Group’s profitability structure.

Against this backdrop, EBIT in the High Performance Metals Division for the 2024/25 business year was negatively impacted by EUR 83 million in expenses related to the sale process of Buderus Edelstahl, EUR 78 million in goodwill impairments at the cash-generating unit High Performance Metals Production, and EUR 16 million in reorganization costs for sales locations. Of these negative one-off effects amounting to EUR 176 million, EUR 92 million impacted EBITDA. In the Metal Forming Division, negative one-off effects in the 2024/25 business year amounted to EUR 45 million at EBITDA level and EUR 87 million at EBIT level. The one-time expenses in 2024/25 resulted from the reorganization of the Automotive Components segment and a goodwill impairment at the cash-generating unit Automotive Components.

Earnings for the 2023/24 business year also included one-time effects. In the previous business year, results in the High Performance Metals Division were negatively impacted by EUR 178 million in impairment losses due to the sale process of Buderus Edelstahl (which had been initiated in the previous year), as well as goodwill impairments for the cash-generating unit High Performance Metals Production (EUR 182 million). Of these negative one-off effects totaling EUR 360 million, EUR 92 million impacted EBITDA. EBIT in the Metal Forming Division for the 2023/24 business year included one-off effects in the Automotive Components business segment in the form of impairment losses totaling EUR 68 million.