Austrian steelmaker voestalpine AG has announced its financial results for the first nine months ended December 31 of the fiscal year 2018-19.
Accordingly, Voestalpine's net profit in the first nine months of the fiscal year amounted to €276 million, falling by 50.4 percent compared to the same period of the previous financial year. In the first nine months of the business year 2018-19, the revenues of the company amounted to almost €10 billion, up 5.2 percent year on year. In the given period, the company's EBITDA was €1.1 billion, decreasing by 21.4 percent year on year, while the EBITDA margin stood at 11.1 percent, compared to 14.9 percent in the same period of the previous year.
Voestalpine CEO Wolfgang Eder said that he expects the operating result (EBITDA) for the business year 2018-19 to be around €1.55 billion and the revenue for the same year to surpass that of the business year 2017-18 and thus reach a new high. Furthermore, Voestalpine also believes that in the first half of 2019 the European economy is likely to cool off further, compared to the last months of 2018. However, it is not expected to slide into a recessionary scenario.