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    VOE   AT0000937503

VOESTALPINE AG

(VOE)
  Report
Delayed Quote. Delayed Wiener Boerse - 01/26 11:35:11 am
30.18 EUR   +2.58%
01/26VOESTALPINE : is installing photovoltaic systems at all Group sites
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01/24VOESTALPINE : Gets a Neutral rating from UBS
MD
01/18VOESTALPINE : Receives a Sell rating from Morgan Stanley
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Report for the 1st Half pdf | 283 KB

11/10/2021 | 01:45am EST

REPORT  FOR THE FIRST  HALF OF 2021/22

voestalpine AG www.voestalpine.com

voestalpine GROUP KEY FIGURES

Q 1 2021/22 VS. Q 2 2021/22

In millions of euros

Q 1 2021/22

Q 2 2021/22

Change

04/01 - 06/30/2021

07/01 - 09/30/2021

in %

Income statement

Revenue

3,490.0

3,552.9

1.8

EBITDA

539.6

510.2

-5.4

Depreciation

200.0

199.2

-0.4

EBIT

339.6

311.0

-8.4

Profit before tax

318.8

292.3

-8.3

Profit after tax1

259.2

226.5

-12.6

Statement of financial position

Investments in tangible and intangible assets

and interests

118.3

120.9

2.2

Equity

5,970.8

6,077.5

1.8

Net financial debt

2,617.4

2,743.5

4.8

Net financial debt in % of equity (gearing)

43.8%

45.1%

Financial key performance indicators (KPIs)

EBITDA margin

15.5%

14.4%

EBIT margin

9.7%

8.8%

Cash flows from operating activities

272.1

100.1

-63.2

Share information

Share price, end of period (euros)

34.34

32.04

-6.7

Market capitalization, end of period

6,130.4

5,719.80

-6.7

Number of outstanding shares, end of period

178,520,616

178,520,616

0.0

EPS - earnings per share (euros)

1.42

1.23

-13.4

Personnel

Employees (full-time equivalent), end of period

48,880

49,068

0.4

1 Before deduction of non-controlling interests.

H 1 2020/21 VS. H 1 2021/22

In millions of euros

H 1 2020/21

H 1 2021/22

Change

04/01 - 09/30/2020

04/01 - 09/30/2021

in %

Income statement

Revenue

5,110.1

7,042.9

37.8

EBITDA

395.0

1,049.8

165.8

Depreciation

610.0

399.2

-34.6

EBIT

-215.0

650.6

Profit before tax

-267.5

611.1

Profit after tax1

-275.8

485.7

Statement of financial position

Investments in tangible and intangible assets

and interests

244.9

239.2

-2.3

Equity

5,270.6

6,077.5

15.3

Net financial debt

3,491.0

2,743.5

-21.4

Net financial debt in % of equity (gearing)

66.2%

45.1%

Financial key performance indicators (KPIs)

EBITDA margin

7.7%

14.9%

EBIT margin

-4.2%

9.2%

Cash flows from operating activities

562.8

372.2

-33.9

Share information

Share price, end of period (euros)

22.50

32.04

42.4

Market capitalization, end of period

4,016.7

5,719.8

42.4

Number of outstanding shares, end of period

178,520,616

178,520,616

0.0

EPS - earnings per share (euros)

-1.53

2.65

Personnel

Employees (full-time equivalent), end of period

47,917

49,068

2.4

1 Before deduction of non-controlling interests.

CONTENTS

This report is a translation of the original report in German, which is solely valid.

INTERIM MANAGEMENT REPORT

  1. Economic Environment and Course of Business
  2. Report on the Financial Key Performance Indicators of the voestalpine Group

7 Steel Division

9 High Performance Metals Division

11 Metal Engineering Division

13 Metal Forming Division

  1. Investments
  2. Related Party Disclosures
  1. Risk Management
  2. Outlook
  3. Investor Relations

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

22 Consolidated Statement of Financial Position

  1. Consolidated Statement of Cash Flows
  2. Consolidated Statement of Comprehensive Income
  1. Consolidated Statement of Changes in Equity
  2. Notes

46 Management Board Statement

in accordance with Section 125 (1) Austrian Stock Exchange Act 2018 (Börsegesetz 2018 - BörseG 2018)

INTERIM MANAGEMENT REPORT

This report is a translation of the original report in German, which is solely valid.

ECONOMIC ENVIRONMENT AND COURSE OF BUSINESS

While strong catch-up effects associated with the recovery from the COVID-19 pandemic still predominated at the start of the first half of the business year 2021/22, the macroeconomic ­climate stabilized at a high level over the remainder of the reporting period. Despite good economic growth that continued unabated, the regional differences in vaccination rates as well as the appearance during the Northern summer of ever new variants and mutations of the novel coronavirus triggered yet more uncertainty. Supply chain distortions, which continue to impact particularly the European automotive industry, have delayed deliveries of new cars. To top it off, energy prices rose worldwide toward the end of the business year's first half.

EUROPE

Two sectors, in particular-personal consumption and the service industry-benefited from the easing of COVID-19 restrictions in numerous European Union member states at the start of the current business year. The momentum in industrial­ sectors continued unabated although the shortages of pre-material, especially of semiconductors for electronic components, substantially undermined the performance of the automotive indus- try. The anticipated improvement in conditions during the Northern summer failed to materialize, with the result that conditions toward the end of the reporting period were as critical as before. Hence the European automotive industry was

unable to fully satisfy the strong demand for automobiles.

In this environment, the voestalpine Group succeeded in continuing the upward trajectory that had already begun in the previous business year. Moreover, orders from the aerospace industry started to come in again for the first time since the outbreak of the COVID-19 pandemic. The automotive industry was the only one whose performance remained subdued on account of the component supply chain difficulties.

NORTH AMERICA

In North America, the strong upturn at the end of the previous business year continued unabated in the first half of the business year 2021/22. But the strong momentum at the start of the business year began to wane over the Northern summer. The appearance of new variants of the novel coronavirus dampened economic activity in some areas of the service sector. On the whole, however,­ developments in manufacturing, personal consumption, and the labor market re­ mained positive. In contrast to the European Central Bank (ECB), the Federal Reserve (Fed) has indicated in the light of rising inflation that it will slow down ("taper") its expansive monetary policy ("quantitative easing") and begin to raise interest rates.

The voestalpine Group benefited in many areas from the positive market momentum in North America. This was helped along by the fact that, up to the end of the business year's second quar- ter, voestalpine's North American facilities were affected to a significantly lesser degree by the

R E P O R T F O R T H E F I R S T H A L F O F 2 0 2 1 / 2 2

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

voestalpine AG published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 06:44:17 UTC.


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Financials
Sales 2022 14 524 M 16 299 M 16 299 M
Net income 2022 924 M 1 037 M 1 037 M
Net Debt 2022 2 629 M 2 951 M 2 951 M
P/E ratio 2022 5,83x
Yield 2022 3,36%
Capitalization 5 388 M 6 079 M 6 046 M
EV / Sales 2022 0,55x
EV / Sales 2023 0,53x
Nbr of Employees 49 068
Free-Float -
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Voestalpine AG Technical Analysis Chart | VOE | AT0000937503 | MarketScreener
Technical analysis trends VOESTALPINE AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 30,18 €
Average target price 37,39 €
Spread / Average Target 23,9%
EPS Revisions
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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