Voestalpine : EANS-Adhoc voestalpine AG / High non-recurring write offs and provisions affect earnings in business year 2019/20

Publication Date: 16.12.2019 15:02

EANS-Adhoc: voestalpine AG / High non-recurring write offs and provisions affect earnings in business year 2019/20

Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Earnings Forecast 16.12.2019

Linz - In the current business year, non-recurring effects in an amount of EUR 360 million will negatively influence the result of voestalpine AG. This charge essentially contains write-offs due to impairment of assets and is the result of the analysis of possible effects of the changed global economic conditions on the main business segments of voestalpine, announced in the last outlook.

All non-recurring effects reduce EBIT, but EUR 80 million affect EBITDA as well. From today's perspective, the Management Board therefor expects EBIT for the current business year 2019/20 to be just positive and operating profit (EBITDA) to be in a range of around EUR 1.2 billion.

In view of this earnings expectation, the management board will propose to the supervisory board to submit a resolution to the Annual General Meeting to lower the dividend for the business year 2019/20 in comparison to the last business year. The proposal will take the dividend yield as well as the payout ratio into account.

Further inquiry note: Peter Fleischer

Head of Investor Relations Phone: [phone] Fax: [phone] mailto:[e-mail] http://www.voestalpine.com

end of announcementeuro adhoc

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issuer:	voestalpine AG
	voestalpine-Straße 1
	A-4020 Linz
phone:	+43	50304/15-9949
FAX:	+43	50304/55-5581
mail:	[e-mail]

1. www.voestalpine.com
   ISIN: AT0000937503
   indexes: WBI, ATX
   stockmarkets: Wien
   language: English

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