By Pietro Lombardi

Voestalpine AG swung to a loss in its first half after the coronavirus pandemic hit its performance.

The Austrian steelmaker said Tuesday that it booked an after-tax loss of 276 million euros ($326.1 million) compared with a profit of EUR115 million a year earlier. Revenue fell roughly 22% to EUR5.1 billion.

Looking ahead, the company said that the new wave of coronavirus cases in Europe and the measures imposed by governments have increased uncertainty over forecasts. However, it expects earnings before interest, tax, depreciation and amortization of between EUR800 million and EUR1 billion for the full fiscal year, assuming no new major restrictions.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

11-10-20 0207ET