Austrian steelmaker voestalpine AG has announced its financial results for the first nine months ended December 31 of the fiscal year 2015-16.
Accordingly, voestalpine's net profit in the given period increased to €509 million, up 17.6 percent compared to the corresponding period of the previous financial year. The revenues of the company amounted to €8.4 billion, up 1.5 percent year on year. In the given period, the company's EBITDA was €1.2 billion, increasing by 11.1 percent year on year, while the EBITDA margin improved from 12.4 percent in the same period of the previous financial year to 14.4 percent.
According to the company, thanks to its strong position in the automotive, railway infrastructure, and aviation sectors, which continue to do very well and which make up around 50 percent of the company’s industrial portfolio, as well as the largely stable development in the mechanical engineering and consumer goods industries, the somewhat weaker overall economic situation since the last quarterly report does not change the outlook for the financial year 2015-16.