Austrian steel maker voestalpine has posted record results in the business year 1 April 2021 - 31 March 2022 despite an extremely challenging environment resulting from the global COVID-19 pandemic, supply chain disruptions, huge rises in the prices of raw materials and energy and finally the impact of Russia’s invasion of Ukraine. Voestalpine AG CEO Mr Herbert Eibensteiner said “In the business year 2021/22, demand for the steel and technology Group’s high-quality products developed along extremely robust trajectories in almost all market and product segments. Even the Automotive Components business segment, which was strongly impacted by disruptions to supply chains and related production curtailments, recorded a satisfactory performance. The development of the Railway Systems segment was once again stable. Following the economic recovery, the Aerospace segment, which had been hugely impacted by the pandemic, developed as positively as the energy sector, which was able to profit from the rising oil and natural gas prices. The boom in the Warehouse & Rack Solutions business segment, which is driven especially by the growing trend toward e-commerce, continued unabated in the reporting period.”Revenue increased 36.9% YoY, from EUR 10.9 billion to EUR 14.9 billionEBITDA doubled to EUR 2.3 billionEBITDA margin: 15.4%EBIT of EUR 1.5 billionPAT EUR 1.3 billionOutlook for the business year 2022/23 - The outbreak of the war in Ukraine along with the resulting sanctions against Russia brought an abrupt end to the strong momentum that the economic rebound generated once pandemic-related restrictions had been lifted, curbing economic growth in Europe yet again. In North America, too, growth already declined slightly and unexpectedly in the last quarter of the company’s business year 2021/22. China’s zero-COVID strategy is not only slowing down the country’s own economic momentum. Given the strong interdependence of global supply chains, we expect its ramifications to affect both Europe and North America also. Market sentiment thus clouded over at the start of the company’s new business year 2022/23. The situation is further aggravated by the fact that the parameters of macroeconomic growth, first and foremost, the duration and course of the Ukraine war as well as the political reactions thereto, largely are imponderable. Volatile raw materials and energy prices as well as future developments in the COVID-19 pandemic further deepen the uncertainty. Assuming that, overall, the global economy will cool off but will not suffer any additional major economic distortions due to the Ukraine war; due to new, aggressive COVID-19 waves; or due to large-scale disruptions of international supply chains, the Management Board of voestalpine AG expects the Group to generate EBITDA of between EUR 1.8 billion and EUR 2.0 billion for the business year 2022/23.