Austrian steelmaker Voestalpine AG has announced its financial results for the third quarter ended December 31 of the financial year 2023-2024.
The company posted a net profit of €431 million for the third quarter, compared to a net profit of €864 million recorded in the same quarter of the previous financial year. In the given period, the revenues of the company amounted to €12.4 billion, down 8.8 percent year on year, while its EBITDA came to €1.3 billion, decreasing by 31.7 percent year on year.
Voestalpine stated that it benefited from its global positioning and industry diversification. However, demand remained weak in the consumer goods, construction and mechanical engineering industries. According to the company, its special steel plant in Kapfenberg has been in operation since the beginning of this year. Voestalpine will produce up to 205,000 mt of high-performance materials per year for the automotive, aerospace and energy industries at the new plant.
Assuming no unexpected economic upheavals, the company expects its EBITDA to be €1.7 billion in the business year 2023-2024.
