Austrian steelmaker voestalpine has reported that its revenue for April 1 to December is 29% higher YoY at EUR 13.6 billion, revenue for Q1 to Q3 2022/23 is 29.3% higher than in the previous year, EBITDA climbed by 23% YoY to EUR 1.9 billion and profit after tax at EUR 864 million as compared to EUR 698 million in prior year. Voestalpine said “It profited from its global positioning and industry diversification in the first three quarters, allowing it to generate very good results compared to the previous year in an overall challenging environment.”Voestalpine said “In the first nine months of the current business year, performance was particularly good in the energy sector, with international demand for voestalpine products continuing to grow, also in the solar industry. The clearly positive trend of the first three quarters was also reflected in the aerospace segment, primarily driven by increasing demand for single aisle aircraft used in regional air traffic. In the reporting period the Railway Systems business segment profited in particular from the high demand for rails in the core European markets. Demand for turnouts remained solid outside Europe. By contrast, the white goods and consumer goods industry as well as the construction industry had to contend with slowing momentum. The automotive industry continued to be hampered by ongoing supply chain bottlenecks. In Europe, there was no significant increase in call-ups from automotive customers. The business environment at the Group’s facilities overseas was better, with generally favorable economic conditions especially in China. In the storage technology segment, the first nine months of the business year continued to enjoy a solid basis.”Outlook “While the uncertainties in Europe still outweigh those elsewhere, especially owing to the war in Ukraine, the forecasts for North America now only expect a mild recession, if that. Brazil elected a new president, but the country’s future economic policies are still not clear, even though the current environment is very stable. Economic developments in China at this time are being shaped by the complete reversal of the country’s COVID policies. A massive wave of COVID-19 infections already engulfed the country toward the end of the reporting period; its economic ramifications are likely to affect the fourth business quarter also.”Voestalpine added “As far as markets are concerned, the upward trend in the energy and aerospace segments is expected to continue during the remainder of the business year 2022/23. Railway infrastructure is also expected to continue benefiting from very good demand. Developments in the automotive industry, which has still not been able to really solve its supply chain problems, will largely remain stable. This forecast also applies to the mechanical engineering industry, which continues to benefit from very strong order levels. The consumer goods industry already weakened substantially in the course of the reporting period, and demand in this sector is expected to be lower overall in the company’s last business quarter. Slowing demand in the construction industry is likely to continue in the fourth business quarter.”
Austrian steelmaker voestalpine has reported that its revenue for April 1 to December is 29% higher YoY at EUR 13.6 billion, revenue for Q1 to Q3 2022/23 is 29.3% higher than in the previous year, EBITDA climbed by 23% YoY to EUR 1.9 billion and profit after tax at EUR 864 million as compared to EUR 698 million in prior year. Voestalpine said “It profited from its global positioning and industry diversification in the first three quarters, allowing it to generate very good results compared to the previous year in an overall challenging environment.”Voestalpine said “In the first nine months of the current business year, performance was particularly good in the energy sector, with international demand for voestalpine products continuing to grow, also in the solar industry. The clearly positive trend of the first three quarters was also reflected in the aerospace segment, primarily driven by increasing demand for single aisle aircraft used in regional air traffic. In the reporting period the Railway Systems business segment profited in particular from the high demand for rails in the core European markets. Demand for turnouts remained solid outside Europe. By contrast, the white goods and consumer goods industry as well as the construction industry had to contend with slowing momentum. The automotive industry continued to be hampered by ongoing supply chain bottlenecks. In Europe, there was no significant increase in call-ups from automotive customers. The business environment at the Group’s facilities overseas was better, with generally favorable economic conditions especially in China. In the storage technology segment, the first nine months of the business year continued to enjoy a solid basis.”Outlook “While the uncertainties in Europe still outweigh those elsewhere, especially owing to the war in Ukraine, the forecasts for North America now only expect a mild recession, if that. Brazil elected a new president, but the country’s future economic policies are still not clear, even though the current environment is very stable. Economic developments in China at this time are being shaped by the complete reversal of the country’s COVID policies. A massive wave of COVID-19 infections already engulfed the country toward the end of the reporting period; its economic ramifications are likely to affect the fourth business quarter also.”Voestalpine added “As far as markets are concerned, the upward trend in the energy and aerospace segments is expected to continue during the remainder of the business year 2022/23. Railway infrastructure is also expected to continue benefiting from very good demand. Developments in the automotive industry, which has still not been able to really solve its supply chain problems, will largely remain stable. This forecast also applies to the mechanical engineering industry, which continues to benefit from very strong order levels. The consumer goods industry already weakened substantially in the course of the reporting period, and demand in this sector is expected to be lower overall in the company’s last business quarter. Slowing demand in the construction industry is likely to continue in the fourth business quarter.”
