Austrian steelmaker Voestalpine AG has posted a net profit of €486 million for the first half ended September 30 of the financial year 2021-22, compared to a net loss of €276 million recorded in the same quarter of the previous financial year. In the first half, the revenues of the company amounted to €7 billion, up 37.8 percent year on year. In the given period, the company’s EBITDA was €1 billion, 2.7 times higher than the same half last year.
The company stated that it delivered a positive performance in the first half this year despite challenging conditions such as the global increase in energy prices and disrupted supply chains. The supply chain problems intensified over the summer solely in the automotive segment, even though Voestalpine’s North American and Asian facilities were affected much less by the lack of semiconductors than the European facilities.
Based on the assumption that there will be no unexpected economic distortions, Voestalpine said it continues to expect its EBITDA to be within a range of €1.9 billion to €2.2 billion in the business year 2021-22.