Voestalpine announces 2003/2004 fiscal year results

Voestalpine announces 2003/2004 fiscal year results

According to market reports, Austrian steelmaker Voestalpine AG announced an increase in its sale and earning for the first half of 2003/2004 fiscal year compared to the previous period. In the first six months of fiscal year, net profit reached to €87.4 million from €12 million in the year ago period. This increase is attributed to the sale of 19% stake in VA Technologie AG. Company's EBITDA (earnings before interest, taxes, depreciation and amortization) rose by 29% to €292.1 million from €227 million. Besides, EBIT (earnings before interest and tax) revealed a 62% increase and reached to €146.8 million which was the highest semi annual result in the history of company. The sales were up by 12.6% to €2.3 billion in the first half of fiscal year from €2.01 billion recorded in the same period last year.