The Austrian steel producer Voestalpine Group has announced its financial results for financial year 2007-08.
According to the company's release, in FY 2007-2008 the net revenue of the company increased by 50.9 percent year on year to €10.5 billion from €6.94 billion. Meanwhile, Voestalpine's EBITDA margin rose to €1.97 billion, up 44.9 percent from €1.36 billion during the period in question.
The company's EBIT (profit from operations) increased by 48.6 percent to €1.5 billion from €1.01 year on year in FY 2007-2008
Net income in FY 2007-2008 amounted to €1.003 billion, indicating an increase of 31.2 percent increase from € 764.9 million recorded in the previous financial year.
Voestalpine's crude steel production totaled 7.6 million mt in 2007, up by 13.4 percent year on year.
During the period in question Voestalpine's export ratio rose from 84 percent to 88 percent over the previous year. Germany and Italy remained the two largest single export markets.
In FY 2007-2008, the most profitable area of the company was its steel division, in which the EBIT margin went up from 14.8 percent to 17.4 percent year on year.