Development of the key figures
of the voestalpine Group

The voestalpine Group’s revenue declined by 5.9% year on year, from EUR 4,145.7 million in the first quarter of 2024/25 to EUR 3,901.5 million in the first quarter of 2025/26. Revenue in the Metal Engineering Division remained stable, while the other three divisions recorded a decline. In the Steel Division, the drop in revenue was driven by lower prices. Revenue in the High Performance Metals Division declined as a result of reduced shipments to the oil and gas sector and the loss of volume from Buderus Edelstahl, which was sold in Q4 2024/25.

Operating profit (EBITDA) totaled EUR 361.2 million in the first quarter of 2025/26 (margin 9.3%), down 13.4% from EUR 417.2 million in the same period of 2024/25 (margin 10.1%). The previous year’s EBITDA included a negative one-off effect of EUR 28 million related to the sale of Buderus Edelstahl. EBIT (profit from operation) fell by 24.7% year on year, from EUR 227.8 million (margin 5.5%) to EUR 171.5 million (margin 4.4%).

With a net financial result of EUR –32.8 million (previous-year period: EUR –39.3 million), profit before tax in the first quarter of 2025/26 amounted to EUR 138.7 million (Q1 2024/25: EUR 188.5 million). A tax rate of 23.4% (previous year: 20.6%) resulted in profit after-tax of EUR 106.3 million in the current reporting period (previous year: EUR 149.7 million).

The voestalpine Group’s equity decreased slightly by 0.6% year on year, from EUR 7,560.9 million as of June 30, 2024 to EUR 7,517.8 million as of June 30, 2025. Compared with the balance sheet date of March 31, 2025 (EUR 7,464.7 million), however, the equity base increased by 0.7%. A strong focus on working capital measures and the resulting positive cash flow generation led to a further reduction in net financial debt, both year on year and compared with the balance sheet date of March 31, 2025. Net financial debt totaled EUR 1,456.8 million as of June 30, 2025, representing a 17.0% decrease compared with June 30, 2024 (EUR 1,754.6 million) and an 11.7% decrease compared with the balance sheet date (EUR 1,650.0 million). As a result, the gearing ratio (net financial debt as a percentage of equity) improved from 23.2% as of June 30, 2024, and from 22.1% as of March 31, 2025, to 19.4% as of June 30, 2025. Despite increased investment needs for the gradual transition to green power-based steel production, the gearing ratio is at its lowest level since the financial year 2006/07.

The number of employees (FTE – full-time equivalent) in the voestalpine Group decreased by 3.5% year on year, from 51,371 as of June 30, 2024 to 49,551 as of June 30, 2025. This reduction was primarily attributable to the sale of Buderus Edelstahl and to reorganization measures in the High Performance Metals Division and Automotive Components (Metal Forming Division).

Net financial debt can be broken down as follows: