The voestalpine Group has demonstrated excellent growth in revenue and earnings in 1Q17/18, both compared to 1Q16/17 and the quarter immediately proceeding. This underscores the value of the consistent strategic orientation towards leading technologies and quality coupled with permanent international expansion, which has been followed over the past years.
- Revenue rises by 17.3% from €2.8 billion to €3.3 billion.
- Operating result (EBITDA) goes up by 54%, from €334 million to €514 million.
- Profit from operations (EBIT) almost doubles, rising from €168 million to €329 million.
- Consequently, on an adjusted basis (for extraordinary consolidation effects) the highest EBIT with the exception of 2Q08/09.
- Profit before tax and profit after tax each increase by more than 100%.
- At 53.8% the gearing ratio drops slightly.
- At €6.22 billion, equity reaches an all-time high.
- The number of employees worldwide surpasses 50 000 for the first time.
- Processing divisions provide stable earnings basis.
“The voestalpine Group's revenue and earnings performance during the first quarter of the new business year represents a return to the income levels prior to the outbreak of the financial and economic crisis in 2008. Despite the geopolitically challenging times, continuing strong demand from the most important customer segments, especially the mobility sector, and the broad economic upward trend, particularly in Europe, have contributed significantly to these record results,” said Wolfgang Eder, Chairman of the Management Board of voestalpine AG.
Read the article online at: https://www.worldcement.com/europe-cis/09082017/the-voestalpine-group-reports-increase-in-revenue-and-earnings/