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Real-time Estimate Quote. Real-time Estimate Tradegate - 09/23 03:59:02 pm
32.95 EUR   -0.09%
09/22VOESTALPINE : Our path to a green future
09/20VOESTALPINE : increases its research budget in the current business year to EUR 185 million
09/15METAL FORMING DIVISION : long live the loop
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Voestalpine lightweight innovation: 20 years in the fast lane with “phs-ultraform”

07/12/2021 | 04:02am EDT

Today, there is a bit of voestalpine in most vehicles-from small cars to SUVs to luxury cars, both electric and fuel-based. For years, the automotive industry has been demanding materials that are stronger, lighter, more corrosion-resistant and economic to produce.

The only way to maintain a technological and competitive edge in this environment is to constantly push the limits of what is possible.

Herbert Eibensteiner, CEO voestalpine AG

voestalpine succeeded in doing just this two decades ago with steel innovations such as 'phs-ultraform', a hot-dip galvanized, ultra-high-strength steel for lightweight body parts that still holds a worldwide patent. 'Groundbreaking developments like phs-ultraform have made a significant contribution in recent years. voestalpine now generates more than 30 percent of its sales in the automotive sector and is considered an innovation leader among suppliers,' says Eibensteiner. Research and development play a central role in this context. To date, around EUR 30 million has been invested in the development of phs-ultraform alone. In the current business year, the Group has budgeted EUR 185 million for R&D.

Worldwide processing and automotive standard

Today, phs-ultraform is a standard material in car bodies. Depending on the type and manufacturer of the car, voestalpine steel makes up ten percent (standard car) to 30 percent (premium car) of the car body. voestalpine supplies all renowned European automobile manufacturers and their suppliers. The recent approval from the world's largest car manufacturer for series production marked another milestone in the company's success story. The voestalpine Group not only supplies the basic material-special steel strip from the Steel Division in Linz, the Metal Forming Division's automotive companies process it into finished automotive parts. 'With phs plants in China, the USA, and Germany, voestalpine is excellently positioned in the most important markets. Thanks to the continuous expansion of technology and the excellent order levels, the 15th plant worldwide will soon go into operation in China,' comments Eibensteiner. In the People's Republic of China, voestalpine is still considered the only manufacturer of the popular product. 'This material innovation has made a significant contribution to voestalpine's internationalization in recent years, allowing us to move up into a new league in the automotive supplier industry,' explains the voestalpine CEO.

From the idea to innovation leader

The idea for phs-ultraform (press hardening steel) was born in 2002. In 2003, the voestalpine research and development team started the first series of tests. The breakthrough came five years later, and the first major orders from the automotive industry were received in 2008. In 2016, voestalpine became the first manufacturer in the world to set up a plant for a 'direct' production process to supplement the previous 'indirect' process. This made it possible to manufacture in just one process step, which is ideal for simpler components in smaller quantities.

20 years ago, the customer requirement was to develop a high-strength, lightweight steel with zinc coating for corrosion protection. The process requires a temperature of 900°C, but since zinc evaporates at that temperature the company faced a seemingly insolvable problem. voestalpine ultimately achieved a major innovative breakthrough with phs-ultraform-a world first. phs-ultraform has since developed into a diverse product range for the lightweight construction sector. Premium manufacturers use phs-ultraform for side and cross members, A and B pillars, sills, and bulkheads. The technology also helps reduce fuel consumption while significantly improving occupant safety. As absolute lightweights, phs-ultraform components naturally also play an essential role in electromobility-not only in the body, but also for battery protection. Innovations such as the development of an ultra-light, corrosion-resistant, yet high-strength 'super steel' almost 20 years ago provide the foundation for continuing to assure steel's position as one of the leading materials in the mobility sector in the future.

The voestalpine Group

In its business segments, voestalpine is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions, it is a leading partner to the automotive and consumer goods industries as well as the aerospace and oil & gas industries; it is also the world market leader in railway systems, tool steel, and special sections. voestalpine is fully committed to the global climate goals, and its greentec steel program represents a clear plan for decarbonizing the production of steel. In the business year 2020/21, the Group generated revenue of EUR 11.3 billion, with an operating result (EBITDA) of EUR 1.1 billion; it had about 48,700 employees worldwide.


voestalpine AG published this content on 12 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2021 08:01:07 UTC.

ę Publicnow 2021
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Sales 2022 14 164 M 16 627 M 16 627 M
Net income 2022 886 M 1 040 M 1 040 M
Net Debt 2022 2 675 M 3 140 M 3 140 M
P/E ratio 2022 6,63x
Yield 2022 3,24%
Capitalization 5 884 M 6 905 M 6 907 M
EV / Sales 2022 0,60x
EV / Sales 2023 0,58x
Nbr of Employees 48 880
Free-Float 70,2%
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 32,96 €
Average target price 37,54 €
Spread / Average Target 13,9%
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Managers and Directors
Herbert Eibensteiner Chairman-Executive Management Board
Robert Ottel Chief Financial Officer
Joachim Lemppenau Chairman-Supervisory Board
Franz Gasselsberger Member-Supervisory Board
Josef Gritz Member-Supervisory Board
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