Voestalpine reports strong results for first half

Voestalpine reports strong results for first half

Austrian flat steel producer Voestalpine announced strong profit growth for the six months ended on September 30, 2005. The sales revenue of the company increased by 20 percent to €3.3 billion, while earnings before interest and tax nearly doubled to €371.5 million. At the end of the 2005/06 fiscal year, the company expects to surpass the record figures of 2004/05 with an earning before interest and tax of more than €600 million and an increase in sales revenue to more than €6 billion. Approximately 25 percent of the company's products are sold to the automotive industry, 25 percent to the steel and machine construction industry, 17 percent to the construction industry and 10 percent to the household appliances industry.