Development of the key figures of the voestalpine Group

The voestalpine Group’s revenue declined by 5.1% year-on-year from EUR 11,741.5 million in the first three quarters of the 2024/25 fiscal year to EUR 11,138.9 million in the first three quarters of 2025/26. While the Steel Division and the Metal Engineering Division recorded only slight year-on-year declines in revenue, the Metal Forming Division and the High Performance Metals Division reported more significant decreases due to extensive reorganization measures. In the latter, the sale of Buderus Edelstahl was the primary driver of the significant decline in revenue compared with the previous year.

Across the individual earnings categories, the voestalpine Group recorded increases in the current reporting period compared with the previous year. Operating profit (EBITDA) improved by 7.2% to EUR 1,037.8 million in the first three quarters of the 2025/26 fiscal year (Q1-Q3 2024/25: EUR 968.3 million). The EBITDA margin thus grew from 8.2% to 9.3%. It should be noted that the previous year’s EBITDA included negative one-off effects of EUR 81 million in the High Performance Metals Division in connection with the sale of Buderus Edelstahl, while the Metal Forming Division incurred one-time expenses of around EUR 30 million relating to the reorganization of the Automotive Components business.

Profit from operations (EBIT) increased by 20.9% year-on-year from EUR 391.1 million (margin 3.3%) to EUR 473.0 million (margin 4.2%). Due to lower net interest expense (finance income less finance costs) in the current reporting period, the voestalpine Group significantly increased profit before tax by 46.5% from EUR 254.0 million in the first three quarters of the 2024/25 fiscal year to EUR 372.0 million in the first three quarters of 2025/26. By contrast, the tax rate rose significantly from 18.6% in the previous year to 30.5% in the current reporting period. As a result, profit after tax for the first three quarters of 2025/26 amounted to EUR 258.5 million, representing an increase of 25.1% compared to the previous year (EUR 206.7 million).

The voestalpine Group further reduced its net financial debt to EUR 1,422.9 million as of December 31, 2025. Compared with the previous year (EUR 1,959.5 million), net financial debt decreased by 27.4%; compared with the balance sheet date of March 31, 2025 (EUR 1,650.0 million), it decreased by 13.8%. Equity rose by 2.0% to EUR 7,613.5 million as of December 31, 2025, both year-on-year (EUR 7,466.5 million as of December 31, 2024) and compared with the balance sheet date of March 31, 2025 (EUR 7,464.7 million). As a result, the gearing ratio (net financial debt as a percentage of equity) improved further from 26.2% as of December 31, 2024, and 22.1% as of March 31, 2025 (balance sheet date), to 18.7% as of December 31, 2025.

The number of employees (FTE – full-time equivalent) in the voestalpine Group declined by 3.8% compared with the previous year (50,670 as of December 31, 2024) to 48,744 as of December 31, 2025 and by 1.8% compared with the balance sheet date of March 31, 2025 (49,659). The decrease occurred primarily in the High Performance Metals Division due to the sale of Buderus Edelstahl and reorganization measures in production and sales.

Net financial debt can be broken down as follows: