EQS-Ad-hoc: voestalpine AG / Key word(s): Profit Warning
voestalpine AG: Results of first half of BY 2024/25 below market
expectation because of one-off effects, furthermore economic downturn
requires adjustment of earnings forecast for full BY 2024/25
14-Oct-2024 / 15:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
Following the restructuring steps already taken in the past, the
Management Board of voestalpine AG has decided to transfer the strategic
process initiated to reposition Buderus Edelstahl into a sales process.
Based on the current status of negotiations, the required quarterly
valuation leads to negative one-offs of about EUR 50 million for the
second quarter of the business year 2024/25. Hence, the Management Board
of voestalpine expects an EBITDA of around EUR 300 million for the second
quarter of business year 2024/25 (EBIT of around EUR 110 million),
respectively for the first half of business year 2024/25 an EBITDA of
around EUR 720 million (EBIT of around EUR 340 million) and therefore
results below the market expectation.
The final results for the first half of the business year 2024/25 will be
published as planned on November 13, 2024.
Based on the expected earnings figures for the first half of the business
year 2024/25, the significant economic downturn in Europe and the expected
one-off effects from the reorganization of the Business Unit Automotive
Components in Germany in the course of the second half of business year
2024/25, the Management Board of voestalpine AG from today's point of view
expects an EBITDA of around EUR 1.4 billion for the full business year
2024/25.
With the sale of Buderus Edelstahl the High Performance Metals Division is
concentrating its product portfolio on the high-tech segment of special
materials and reducing the production share of tool steel and engineering
steel in the standard grade area.
The non-recurring burdens on earnings in this business year described
above strengthen voestalpine Group's future earnings potential in a
markedly changing economic and regulatory restrictive environment.
End of Inside Information
══════════════════════════════════════════════════════════════════════════
14-Oct-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
══════════════════════════════════════════════════════════════════════════
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
WKN: 897200
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2007985
End of Announcement EQS News Service
2007985 14-Oct-2024 CET/CEST
