Austrian steelmaker Voestalpine AG has posted a net profit of €698 million for the third quarter ended December 31 of the financial year 2021-22, compared to a net loss of €159 million recorded in the third quarter of the previous financial year. In the third quarter of the financial year 2021-22, the revenues of the company amounted to €10.9 billion, up 36.7 percent year on year. In the given period, the company’s EBITDA was €1.5 billion, compared to €683 million in the same period of the previous financial year.
The company stated that it achieved an upturn in the first three quarters of the financial year 2021-22, even substantially surpassing its performance prior to the outbreak of the pandemic. However, both the volatility of raw material costs and the abrupt surge in energy costs toward the end of the third quarter challenged the company.
Voestalpine said it expects its EBITDA to be at €2.2 billion in the business year 2021-22 and thus an amount at the upper end of the previously communicated range.