Voestalpine’s net profit slightly increases in FY 2013-14

Austrian steelmaker voestalpine AG has announced its financial results for the financial year 2013-14 ended March 31. Accordingly, voestalpine's net profit in the full financial year increased to €523 million, rising by just 0.2 percent compared to the previous financial year. The revenues of the company amounted to €11.2 billion, falling 2.6 percent year on year, due to declining price levels and continuing intense competition.
 
In the given period, the company's EBITDA stood at €1.38 billion, decreasing by 3.4 percent year on year, which is equivalent to an EBITDA margin of 12.3 percent, remaining almost unchanged compared to the financial year 2012-13.
 
"Considering the economic environment and in comparison with other companies in the industry, the performance of voestalpine in the past business year was rock solid," said Wolfgang Eder, voestalpine CEO.
 
According to voestalpine's statement, after 2013, which was significantly weaker than experts anticipated, 2014 is expected to see not only a continued consolidation in those regions that are most important for the global economy for the first time since the "crisis," but also increasing momentum in economic growth. Voestalpine said that indications of future demand from the most important customer industries point to a development that ranges from stable to moderately positive for the year.