Austrian steelmaker Voestalpine AG has announced its financial results for the financial year 2023-24 ended March 31.
The company has posted a net profit of €207.1 million for the given year, compared to a net profit of €1.2 billion in the previous financial year. Although the revenues of the company amounted to €16.7 billion in the 2023-24 financial year, down 8.2 percent year on year, the company recorded the second-highest level of revenue in its history in the given financial year after achieving record revenue of €18.2 billion in the financial year 2022-23. In the given period, the company’s EBITDA was €1.7 billion, decreasing by 32.0 percent year on year.
According to the statement, the current trends have not changed significantly with the start of the new financial year 2024-25. While Europe is currently still experiencing very subdued economic growth, momentum in North America is solid despite high interest rates.
Voestalpine expects its EBITDA to be in the range of €1.7-1.8 billion in the financial year 2024-25. The company stated that it will continue to expand its processing activities globally in the financial year 2024-25 and the following years.
