Outlook
The geopolitical turmoil that characterized much of the 2025/26 business year is also expected to have a significant impact on the upcoming 2026/27 business year. In addition to the as-yet-unresolved conflict in the Middle East and its resulting effects on energy prices and inflation, the economic and legal framework conditions between Europe and North America have not yet stabilized.
The 2026/27 business year will therefore be significantly influenced by developments beyond the company’s sphere of influence. However, the management of voestalpine AG will continue to respond to changing conditions carefully, consistently, and swiftly. The company’s broad portfolio and consistently implemented strategy will support these efforts.
Assuming a global economic environment comparable to that of the previous year, the major market trends observed to date are also expected to continue largely unchanged.
In the Steel Division, the general conditions have improved with the introduction of the CBAM (Carbon Border Adjustment Mechanism) at the start of the calendar year and the expected implementation of the European Union’s post-safeguard measures by summer 2026 at the latest. Both the aim of equal treatment regarding CO2 costs and a balanced management of import volumes will positively influence
the European steel market and thus the performance of the voestalpine Steel Division in the 2026/27 business year. However, this is mitigated by delays to energy projects in the heavy plate segment.
The extensive reorganization measures are expected to yield both sustainable and one-time positive effects for the High Performance Metals Division in the 2026/27 business year. From a market perspective, the development should remain largely stable, with the Aerospace segment continuing to perform well.
The Metal Engineering Division will continue to be significantly shaped by the positive trend in the Railway Systems segment in the 2026/27 business year. In the seamless tube business, we do not expect any significant changes related to U.S. tariffs. Production levels have been adjusted to meet demand. The performance of the remaining Division is expected to remain largely stable in what remains a challenging environment.
The market outlook for the Metal Forming Division in the 2026/27 business year is expected to vary by region, with only slight improvement expected in the Tubes & Sections segment. Positive earnings effects are expected from the reorganization measures at Automotive Components. The Warehouse & Rack Solutions and Precision Strip business units are expected to continue performing well.
Against this backdrop of persistently high geopolitical and economic uncertainties, the continuation of existing market trends, and positive effects from the implementation of internal measures, the Management Board of voestalpine AG expects EBITDA for the 2026/27 business year to range between EUR 1.60 and EUR 1.85 billion.