09.11.2016,
6303 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
6-month report
The macroeconomic environment of the first six months of the business year
2016/ 17 was characterized by the continuation of the moderate economic
recovery in Europe, which turns out to be even resistant against the
BREXIT-vote as well as the crisis in the Middle East so far. In North America
on the other hand, economic dynamics started to slow down, whereas the growth
trend in China stabilized and Brazil was able to decelerate its recession
trend. Against this backdrop the essential market segments for the voestalpine
Group, automotive and aircraft industry, continued their strong development;
Railway infrastructure as well as consumer goods remained on solid levels. By
contrast the energy segment, in particular the oil- and gas-sector, showed no
trend reversal after the slump in the previous year. The decline in revenues of
6.5% in the annual comparison of the first six months is stemming from the
deflationary trend of raw material developments in general but in particular
from the continuing weak markets in the oil- and gas-segment. The comparison of
earnings in a 12-months perspective has only limited validity due to
significant positive one-offs in the first half of the last business year.
Clean figures, which are excluding these one-offs are describing the
operational developments, but nevertheless the comparison is showing declining
earnings. The main reason for this development stems from the significant
decline of the oil- and gas-business, which affected the Metal Engineering
Division (seamless tubes for OCTG-goods) substantially, and to a lesser extent
also the Steel Division (heavy plate for pipelines) and the Special Steel
Division (special materials for oil- and gas-exploration).
While the Steel and the Metal Engineering Division were confronted with
declining revenues as well as earnings in the comparison of the half year's
figures, the Special Steel Division was able to compensate the weakness in the
oil- and gas-segment and delivered rising earnings despite declining revenues.
The Metal Forming Division on the other hand significantly increased revenues
as well as earnings due to the strong automotive business and the successful
execution of the internationalization strategy. Looking at the first half of
business year 2016/17, voestalpine Group was able to significantly increase
earnings (EBITDA: +11.1%, EBIT +20.1%) in the second fiscal quarter in
comparison to the first fiscal quarter 2016/17. The main driver for this
development was the Steel Division, which markedly improved its earnings. The
other divisions were showing a solid development on quarterly basis including
the normal seasonality - meaning the second fiscal quarter was somewhat weaker
than the first fiscal quarter because of summer season. For the remainder of
the actual business year 2016/17 no significant changes of the developments of
the economies, being essential for the voestalpine Group, are expected. The
same accounts for the most important customer segments of the group, where a
continuation of the existing trends can largely be expected. Against this
backdrop, the actual expectations for the business year 2016/17 are as follows:
Profit from operations (EBIT) should unchanged come close to the figures in the
last business year (adjusted figure). With respect to operating result (EBITDA)
a repetition of the adjusted figure from last year should now be possible.
Half year's figures of the voestalpine Group
________________________________________________________________________
|(acc._IFRS;_in_EURm)_______|H1_2015/16(1)_____|H1_2016/17________|Change|
|___________________________|04/01_-_09/30/2015|04/01_-_09/30/2016|in_%__|
|Revenue____________________|5,786.7___________|5,407.8___________|-6.5__|
|EBITDA_____________________|892.1_____________|704.9_____________|-21.0_|
|EBITDA_margin_in_%_________|15.4______________|13.0______________|______|
|EBIT_______________________|575.1_____________|368.9_____________|-35.9_|
|EBIT_margin_in_%___________|9.9_______________|6.8_______________|______|
|Profit_before_tax__________|504.6_____________|311.4_____________|-38.3_|
|Profit_after_tax_(2)_______|420.8_____________|233.7_____________|-44.5_|
|EPS_(in_EUR)_______________|2.29______________|1.28______________|-44.1_|
|Gearing_ration_in_%_(09/30)|57.1______________|60.1______________|______|
(1) H 1 2015/16 retroactively adjusted. Further details are provided under
"General information/Accounting policies." (2) Before deduction of
non-controlling interests and interest on hybrid capital.
Quarterly figures of the voestalpine Group
_______________________________________________________________________
|(acc._IFRS;_in_EURm)|Q1_2016/17___________|Q2_2016/17___________|Change|
|____________________|04/01/16_-_06/30/2016|07/01/16_-_09/30/2016|in_%__|
|Revenue_____________|2,772.4______________|2,635.4______________|-4.9__|
|EBITDA______________|333.9________________|371.0________________|11.1__|
|EBITDA_margin_in_%__|12.0_________________|14.1_________________|______|
|EBIT________________|167.6________________|201.3________________|20.1__|
|EBIT_margin_in_%____|6.0__________________|7.6__________________|______|
|Profit_before_tax___|138.9________________|172.5________________|24.2__|
|Profit_after_tax_(1)|105.8________________|127.9________________|20.9__|
|EPS_(in_EUR)________|0.58_________________|0.70_________________|20.7__|
(1) Before deduction of non-controlling interests and interest on hybrid
capital.
Further details on the 2nd quarter results 2016/1 are available on our homepage
www.voestalpine.com.
end of announcement euro adhoc
Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/glqnMEZ1
http://resources.euroadhoc.com/us/ZGtD6HcL
company: voestalpine AG
voestalpine-Straße 1
A-4020 Linz
phone: +43 50304/15-9949
FAX: +43 50304/55-5581
mail: IR@voestalpine.com
WWW: www.voestalpine.com
sector: Metal Goods & Engineering
ISIN: AT0000937503
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English
Digital press kit:
http://www.ots.at/pressemappe/2054/aom
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voestalpine
Akt. Indikation: 23.98 / 25.40
Uhrzeit: 22:59:56
Veränderung zu letztem SK: -2.41%
Letzter SK: 25.30 ( 0.88%)
Bildnachweis
1.
Georg Kapsch (Präsident der Industriellenvereinigung), Monika Kirchner (Senior Director Industrial Affairs der Infineon AG), Joachim Riedl (Leiter des Wiener Büros der ZEIT), Hans Jörg Schelling (Finanzminister), Stefan Pierer (CEO KTM Industries AG), Wolfgang Eder (CEO der voestalpine AG) : "ZEIT Konferenz" in Wien: Herausforderungen und Perspektiven des Wirtschaftsstandortes im Fokus : Fotocredi
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