EQS-News: voestalpine AG: voestalpine posts massive increase in both revenue and earnings in Q3 2021/22 as wel

EQS-News: voestalpine AG / Key word(s): Quarterly / Interim Statement
voestalpine AG: voestalpine posts massive increase in both revenue and
earnings in Q3 2021/22 as wel

09.02.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

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voestalpine posts massive increase in both revenue and earnings in Q3
2021/22 as well

– At EUR 10.9 billion, Q3 2021/22 revenue exceeds previous year’s EUR 8
billion by 36.7%

– At EUR 1.5 billion, EBITDA more than doubles year over year (Q3 2020/21:
EUR 683 million)

– EBIT jumps from EUR -134 million the previous year to EUR +947 million

– Profit before tax is EUR 893 million (Q3 2020/21: EUR -210 million),
profit after tax is EUR 698 million (Q3 2020/21: EUR -159 million)

– At 46.0%, gearing ratio shows substantial improvement (Q3 2020/21:
58.4%)

– Equity rises to EUR 6.3 billion (Q3 2020/21: EUR 5.4 billion)

– Number of employees stands at 49,157 FTE (+2.7% year over year)

voestalpine achieved an impressive upturn in the first three quarters of
the business year 2021/22 (April 1 to December 31), even substantially
surpassing its performance prior to the outbreak of the COVID-19 pandemic.
Demand for the high-quality products of the steel and technology group
developed along extremely robust trajectories in all market and product
segments. However, both the volatility of raw material costs and the
abrupt surge in energy costs toward the end of the third business quarter
were challenging. A few segments, particularly the Automotive business
segment, were affected by the automotive industry’s supply chain problems.
Yet the demand for cars is undiminished. The Railway Systems business
segment posted stable performance yet again. The aerospace industry, which
is profiting from rising demand for short-haul aircraft, also continued to
develop along a positive trajectory. Increasing investments in the oil &
natural gas industry enabled the energy segment to continue following a
positive trend as well. The storage technology and high-bay warehouse
business segment profited yet again from surging e-commerce, successfully
completing numerous projects in Europe and the United States.

„We are very pleased with our current key performance indicators, which
reflect highly robust demand for our high-quality products, the excellent
work of our employees, and our undiminished focus on measures to boost
efficiency. The fact that we even succeeded in substantially surpassing
our performance before the pandemic’s outbreak despite an economic
environment that remains unstable forcefully underscores our Group’s
strategic alignment and capabilities,“ says Herbert Eibensteiner, Chairman
of the Management Board of voestalpine AG.

Development of Revenue and Earnings
The key performance indicators (KPIs) of the voestalpine Group for Q3
2021/22 show significant year-over-year growth. Revenue jumped 36.7%, from
EUR 8 billion a year ago to EUR 10.9 billion currently. EBITDA skyrocketed
126.4% year over year, from EUR 683 million to EUR 1.5 billion. After EUR
-134 million in Q3 2020/21, EBIT soared to EUR +947 million in Q3 2021/22.
Profit before tax surged in the reporting period to EUR 893 million (Q3
2020/21: EUR -210 million), and profit after tax to EUR 698 million (Q3
2020/21: EUR -159 million). Work to reduce net financial debt continued,
with the result that it fell to EUR 2.9 billion as of December 31, 2021,
down from EUR 3.2 billion as of December 31, 2020. Equity rose year over
year from EUR 5.4 billion to EUR 6.3 billion. The gearing ratio (net
financial debt as a percentage of equity) dropped year over year, from
58.4% to 46.0%. And the number of employees (FTE) in the voestalpine Group
increased 2.7% year over year, from 47,871 to 49,157.

Outlook
If one were to analyze solely the company’s excellent earnings performance
in the first nine months of its current business year, one might conclude
that the company’s financial position reflects an economic boom. In actual
fact, however, the current business year to date has been buffeted by
extraordinarily volatile developments affecting the markets as well as raw
materials and energy.

Nor did this situation change at the start of the business year’s final
quarter. In Europe and North America, the Omicron variant of the COVID-19
virus is causing record levels of new infections, the bottlenecks in the
global supply chains continue unabated, and the cost of energy in Europe
went through the roof in recent weeks.

Yet the positive trends in the company’s key markets should prevail
regardless, for the following reasons. The supply chain problems
particularly in the automotive industry seem to have bottomed out in the
Northern fall of calendar year 2021. The rebound in the energy sector
should continue. And the aerospace industry, which was hit very hard by
the pandemic, recently showed clear signs of recovering.

It seems, therefore, that the economy remains resilient in the face of the
COVID-19 pandemic-a fact reflected as well in the outlook for the current
business year’s final quarter. Assuming that there will be no unexpected
economic distortions, the last quarter should see another substantial
increase in the company’s key performance indicators over and above the
already very good preceding quarters.

The Management Board of voestalpine AG expects EBITDA for the business
year 2021/22 to reach the upper end of the previously communicated range
and thus a number up to EUR 2,200 million.

Key figures of voestalpine Group

(acc. IFRS) Q1-Q3 BY 2020/21 Q1-Q3 BY 2021/22 Delta %
  04/01/-12/31/2020 04/01/-12/31/2021  
Revenue 7,971.1 10,895.7 +36.7
EBITDA 682.9 1,545.8 +126.4
EBITDA margin in % 8.6 % 14.2 %  
EBIT -133.7 947.4  
EBIT margin in % -1.7 % 8.7 %  
Profit before tax -210.5 892.7  
Profit after tax * -159.3 697.6  
EPS-earnings per share (euros) -0.86 3.81  
Gearing-ratio in % (12/31) 58.4 % 46.0 %  
In millions of euros

*Before deduction of non-controlling interests.

voestalpine AG’s 1^st- 3^rd quarter results BY 2021/22 as of December 31,
2021, may be viewed on the Company’s website, [1]www.voestalpine.com,
under the „Investors“ tab.

If you have any questions, please contact the Investor Relations Team at
+43/50304/15-9949.

Further inquiry note:

voestalpine AG
Peter Fleischer
Head of Investor Relations

voestalpine-Strasse 1
4020 Linz, Austria
T. +43/50304/15-9949
peter.fleischer@voestalpine.com
[2]www.voestalpine.com

voestalpine AG
Mag. Peter Felsbach, MAS
Head of Group Communications I Konzernsprecher

voestalpine-Straße 1
4020 Linz, Austria
T. +43/50304/15-2090
peter.felsbach@voestalpine.com
[3]www.voestalpine.com

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09.02.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: voestalpine AG
voestalpine-Straße 1
4020 Linz
Austria
Phone: +43 50304/15-9949
Fax: +43 50304/55-5581
E-mail: IR@voestalpine.com
Internet: www.voestalpine.com
ISIN: AT0000937503
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1278052

 
End of News EQS News Service

1278052  09.02.2022 

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