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The voestalpine Group reports successful year

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World Cement,

Despite a difficult economic environment, heavily influenced by recent political events, voestalpine has reported a successful year for 2016/17. In a year-to-year comparison the company increased its revenue by 2.0%, from €11.1 billion to €11.3 billion.

  • Upward trend over the course of BY 2016/17 confirmed–strong closing quarter–adjusted result above previous year. • Revenue improved from €11.1 billion to €11.3 billion.
  • Only a comparison of adjusted results meaningful due to positive non-recurring effects in the previous year.
  • Operating result (EBITDA) excluding non-recurring effects increased by 6.6%, from €1.45 billion to €1.54 billion (including non-recurring effects: reduced by 2.7%, from €1.58 billion to €1.54 billion); adjusted EBITDA margin rose to 13.6%, just slightly below strategic 14% target for 2020/21.
  • Profit from operations (EBIT) excluding non-recurring effects improved by 3.1%, from €814 million to €840 million (including non-recurring effects: reduced by 7.4%, from €889 million to €823 million); adjusted EBIT margin constant at 7.4%.
  • At €717 million, adjusted profit before tax is 5.9% higher than in the previous year; at €539 million profit after tax excluding non-recurring effects improved by 5.8% compared to 2015/16 (non-adjusted profit before tax at €700 million 6.8% below level of the previous year, and profit after tax at €527 million 12.5% below level of the previous year).
  • Equity reaches an all-time high at over €6 billion. • Gearing ratio again improved, from 54.5% to 53.2%. • Dividend raised for fifth year in a row: by 4.8%, from €1.05 in 2015/16 to €1.10 per share (proposed to the Annual General Shareholder's Meeting).

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