Development of the key figures
of the voestalpine Group

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

In this environment, the voestalpine Group generated revenue of EUR 4,145.7 million in the first quarter of the business year 2024/25. This is a decrease of 6.7% compared to the same period of the previous year (1st quarter 2023/24: EUR 4,445.7 million). All divisions of the Group recorded a year-on-year decline in revenue, with both falling volumes and lower prices responsible for this development.

The operating result (EBITDA) decreased by 16.5% to EUR 417.2 million compared to the previous year (Q1 2023/24: EUR 499.4 million). However, the EBITDA of the current reporting quarter was influenced by negative one-off effects of EUR 28 million from the ongoing sales process for Buderus Edelstahl, Germany, where a write-down was recognized in the first quarter of 2024/25 due to the binding offers that have now been received.

This devaluation is reflected in the earnings performance of the High Performance Metals Division, which also reported the sharpest year-on-year decline in EBITDA. While the Metal Engineering and Metal Forming Divisions also recorded declining earnings, the Steel Division increased its earnings in the first quarter of 2024/25, even exceeding the excellent figure from the previous year.

The profit from operations (EBIT) fell by 26.7% year-on-year to EUR 227.8 million (Q1 previous year: EUR 310.8 million). Profit before tax amounted to EUR 188.5 million in the first quarter of the business year, –31.0% compared to the previous year’s figure of EUR 273.0 million. Profit after tax fell to EUR 149.7 million (Q1 2023/24: EUR 212.8 million).

The voestalpine Group’s equity decreased slightly by –3.4% in the last 12 months and amounted to EUR 7,560.9 million as of June 30, 2024. Compared to the reporting date of March 31, 2024 (EUR 7,499.6 million), equity increased by 0.8%. Net financial debt decreased by 9.3% year-on-year from EUR 1,935.0 million as of June 30, 2023 to EUR 1,754.6 million as of June 30, 2024. Compared to the balance sheet date (EUR 1,650.8 million), net financial debt increased by 6.3%. The gearing ratio (net financial debt as a percentage of equity) improved year-on-year from 24.7% in the previous year to currently 23.2%. Compared to the balance sheet date (22.0%), the gearing ratio increased slightly.

As of June 30, 2024, the voestalpine Group’s workforce (FTE, full-time equivalent) remained almost unchanged year-on-year at 51,371 (previous year’s reporting date: 51,164), up 0.4%. Compared to the reporting date of March 31, 2024 (51,589), the number of employees declined marginally (–0.4%).

Net financial debt can be broken down as follows: