09.02.2017,
6003 Zeichen
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
9-month report
In a macroeconomic environment, which is characterized by moderate economic
growth but political turbulences (Brexit, Trump, Turkey,...), voestalpine was
able to continue its solid development. In particular the automotive industry,
as well as the whole consumer goods sector and the aviation industry continued
to be the drivers of the positive economic trend. The development of the
mechanical engineering segment and the building industry showed a positive
progression as well, the railway infrastructure business on the other hand
weakened somewhat over the course of the year. The downward trend of the oil-
and gas-industry bottomed out in the third quarter of the business year
2016/17, in some areas first improvements from the demand side are becoming
visible already. The comparison of the financial key figures on an annual basis
is distorted because of non-recurring items positively influencing the figures
of last year's comparative period after changes of consolidations in the Metal
Engineering Division (non-recurring positive effects on EBITDA resp. EBIT in
the first nine months of the Business Year 2015/16: EUR 137.6 million
respectively EUR 119.0 million). Excluding those non-recurring items, the
12-months comparison of the clean EBITDA shows a virtually stable development,
although revenues declined slightly (-3.3%). The decline from last year's EUR
1,069.7 million to today's EUR 1,061.1 million stands for a decrease of 0.8%.
Because of increased depreciation, EBIT decreased comparatively stronger by
8.5% to EUR 556.1 million. (Comparable period of last business year: EUR 608.0
million). Responsible for this development are in particular the divisions
Special Steel and Metal Forming, which were able to increase their earnings
significantly, the latter one in a combination with rising revenues, a result
of the successful implementation of the globalization strategy in the
automotive segment. The Special Steel Division increased the earnings
considerably despite lower revenues, a function of higher production- as well
as sales-volumes and internal cost cutting and efficiency improvement measures.
Also the Steel Division achieved a slightly improved EBITDA despite declining
revenues. Because of the ramp up of the DRI-plant in Texas, USA, the
depreciation went up in the third quarter of the Business Year 2016/17 and
consequently the EBIT decreased in the annual comparison. The Metal Engineering
Division was affected most from the downturn of the oil- and gas-industry and
had to face declining revenues as well as earnings. For the fourth quarter of
the business year we expect a significant growth in earnings compared to the
third quarter, as a result of stabilizing raw materials prices (at least
temporarily), as well as slow but continual improvements in the oil and gas
sector, and increased steel-contract-prices becoming effective at the beginning
of 2017. In view of the above, the outlook for the business year 2016/17 as a
whole continues to remain in line with the expectations expressed at the end of
the first half of Business Year 2016/17 (September 30, 2016): The goal is still
an (adjusted) operating result (EBITDA) at the level of the previous year (EUR
1.45 billion), and an (adjusted) profit from operations (EBIT) close to the
level of the past business year (EUR 814 million).
Key figures of voestalpine Group
_______________________________________________________________________
|(acc._IFRS;_in_EURm)______|Q1-Q3_2015/16_____|Q1-Q3_2016/17_____|Change|
|__________________________|04/01_-_12/31/2015|04/01_-_12/31/2016|in_%__|
|Revenue___________________|8,380.4___________|8,101.2___________|-3.3__|
|EBITDA____________________|1,207.3___________|1,061.1___________|-12.1_|
|EBITDA_margin_in_%________|14.4______________|13.1______________|______|
|EBIT______________________|727.0_____________|545.0_____________|-25.0_|
|EBIT_margin_in_%__________|8.7_______________|6.7_______________|______|
|Profit_before_tax_________|628.5_____________|461.4_____________|-26.6_|
|Profit_for_the_period*____|508.5_____________|343.9_____________|-32.4_|
|EPS_(in_EUR)______________|2.74______________|1.86______________|-32.1_|
|Gearing_ratio_in_%_(12/31)|57.0______________|61.2______________|______|
* Before deduction of non-controlling interests and interest on hybrid capital.
Figures adjusted by special items from changes of consolidation:
_____________________________________________________________________
|(acc. IFRS; in EURm) |ADJUSTED |ADJUSTED |ADJUSTED|
|______________________|Q1-Q3__2015/16____|Q1-Q3_2016/17_____|Change__|
|______________________|04/01_-_12/31/2015|04/01_-_12/31/2016|in_%____|
|EBITDA________________|1,069.7___________|1,061.1___________|-0.8____|
|EBITDA_margin_in_%____|12.8______________|13.1______________|________|
|EBIT__________________|608.0_____________|556.1_____________|-8.5____|
|EBIT_margin_in_%______|7.3_______________|6.9_______________|________|
|Profit_before_tax_____|509.4_____________|472.4_____________|-7.3____|
|Profit_for_the_period*|382.7_____________|352.2_____________|-8.0____|
|EPS_(in_EUR)__________|1.94______________|1.88______________|-3.1____|
* Before deduction of non-controlling interests and interest on hybrid capital.
Further details on the 3rd quarter results 2016/17 are available on our
homepage www.voestalpine.com or feel free to contact our Investor Relations
team +43/ 50304/15-9949.
end of announcement euro adhoc
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: 25.46 / 25.70
Uhrzeit: 22:58:35
Veränderung zu letztem SK: 0.39%
Letzter SK: 25.48 ( 0.95%)
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1.
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