Adhoc-news: voestalpine below market expectation in the third business quarter due to special items, adjustment of earnings expectation for business year 2018/19
January 16, 2019 at 06:04 pm EST
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This is due, on the one hand, to a significantly higher impact on earnings from the ramp-up of automotive activities in voestalpine Automotive Components Cartersville, USA, as well as related one-off effects from provisions due to external transfers of orders. In addition, a provision was necessary for possible adverse effects on the net assets, financial position and results of operations of the voestalpine Group in connection with a pending investigation by the German Federal Cartel Office against steel producers on suspicion of anti competitive practices in the past in the market for heavy plates (see also the ad-hoc release of 12 September 2017).
Due to lower earnings for the first nine months and a further expected economic slowdown in the last fiscal quarter, the Management Board of voestalpine adjusted the earnings forecast for the full business year 2018/19 and as of now expects an EBITDA of approximately EUR 1.55 billion and an EBIT of approximately EUR 750 million.
The figures given are preliminary and unaudited.
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voestalpine AG published this content on 16 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 January 2019 23:03:04 UTC
Voestalpine AG is one of the European largest steel makers. Net sales break down by family of products as follows:
- flat steel (32.6%): hot and cold laminated steel, galvanized steel, sheet metal, etc.;
- long steel (21%): steering systems, rods, non-welded tubes, etc.;
- special steel (18.9%);
- steel components (18.6%);
- other (8.9%).
Net sales break down by market into automotive (31.6%), oil industry (15.4%), rail transportation (10.3%), construction (10.1%), civil and mechanical engineering (10%), household appliances (4.4%), aerospace (2.2%) and other (16%).
Net sales are distributed geographically as follows: Austria (7.5%), Europe (54.5%), North America (17.2%), Asia (6.9%), South America (4.6%) and others (9.3%).
Adhoc-news: voestalpine below market expectation in the third business quarter due to special items, adjustment of earnings expectation for business year 2018/19
VOESTALPINE AG 
