In the same period of the previous year, at the beginning of the corona pandemic, there was still a net loss of 70 million euros. The forecasts for the year as a whole have now been adjusted upwards.
“Voestalpine was able to take full advantage of the economic upswing following the pandemic-induced recession in the previous year – almost all of our market and product segments developed very well in the first quarter of the business year and the individual divisions performed extremely well,” said CEO Herbert Eibensteiner.
Management now expects earnings before interest, taxes, depreciation and amortization (EBITDA) of between EUR 1.9 and 2.2 billion for the entire 2021/22 financial year (as of the end of March), which is significantly more than two months ago. At the balance sheet presentation in June, 1.6 to 1.9 billion euros were promised.
In the first quarter of 2021/22 (April to June) earnings before interest and taxes (EBIT) turned year-on-year from minus 49 million euros to plus 340 million euros. The EBITDA climbed by 242 percent to 540 million euros. Sales increased by 45.6 percent from 2.4 to 3.5 billion euros. In the reporting period, voestalpine employed 48,880 people (full-time equivalents) worldwide – 2.1 percent more than a year ago.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
