Outlook
In the first quarter of the financial year 2025/26, the economic environment was shaped by two key developments:
On the one hand, Germany’s announced infrastructure program and intensified investments in the European security architecture provided positive momentum. On the other hand, upheavals in the established global trade order created growing uncertainty. By the end of July 2025, the United States and the European Union had reached a fundamental trade agreement, though details in specific sectors – such as steel – remain unresolved.
The European Commission is addressing current key issues with its Steel and Metals Action Plan to strengthen the competitiveness of European industry, including an effective carbon border adjustment mechanism and a successor system to the safeguard regulation to limit steel imports from third countries. The EU’s specific positioning toward its global trade partners has not yet been defined and may influence Europe’s future economic momentum.
Annual Report 2024/25
Despite these prevailing uncertainties, the voestalpine Group anticipates continued stability in its key market trends: The automotive industry is projected to remain stable, as are mechanical engineering, construction, and consumer goods – albeit at a low level. Railway systems, aerospace, and warehouse technology are expected to maintain robust demand throughout the financial year 2025/26.
The reorganization of Automotive Components (Metal Forming Division) and the realignment of the High Performance Metals Division will continue to be implemented during the current financial year.
The earnings outlook for the year, published with the 2024/25 annual report, takes into account the uncertainties outlined above and reflects a wide range of possible economic scenarios.
Against this backdrop, voestalpine AG’s Management Board reaffirms the June 2025 guidance, projecting EBITDA of EUR 1.40 – 1.55 billion for financial year 2025/26 .