Austrian steelmaker Voestalpine AG has announced its financial results for the first nine months ended December 31 of the financial year 2022-23.
The company posted a net profit of €864 million for the given period, up 23.9 percent year on year. In the first nine months, the revenues of the company amounted to €13.58 billion, up 29.3 percent year on year. In the given period, the company’s EBITDA was €1.88 billion, increasing by 23.4 percent year on year.
According to Voestalpine’s statement, in the first nine months of the current business year, performance was particularly good in the energy sector, with international demand for voestalpine products continuing to grow, also in the solar industry. The clearly positive trend of the first three quarters was also reflected in the aerospace segment and the Railway Systems business segment, profiting in particular from the high demand for rails in the core European markets. By contrast, the white goods and consumer goods industry as well as the construction industry had to contend with slowing momentum. The automotive industry continued to be hampered by ongoing supply chain bottlenecks.
Voestalpine said it expects its EBITDA to be €2.5 billion in the business year 2022-23.
The company also stated that, although economic researchers posit that the economic sentiment reached its lowest point in the third quarter of the business year 2022-23, the forecasts regarding both consumption and investments in the short and medium terms remain subdued. While the uncertainties in Europe still outweigh those elsewhere, especially owing to the war in Ukraine, the forecasts for North America now only expect a mild recession.
